EU broke its previous HIGH at price level 1.10754 and reached the new price high 1.10954.
Direction : NEUTRAL, even though EU is still on UPTREND on the current market range which is the 5 minute range,and also new highs given on 4H and DAILY.
but given to its behaviour in this Asian Session, it produces multiple fails of confirmed entries at range 1.10954 to 1.10315.
Hence to movement of EU is still depending on wether it breaks the current high made or the previous low of the 5 minute range.
if price is able to break price level 1.10954 it will print a new 5 minute range to look and trade for opportunies to go LONG;
but if it breaks below price level 1.10315 we will then see the market prints a 15 minute timeframe pullback and we will be able to trade SHORT for the meantime until we see a break of structure to the upside.
until then we have to wait for its directional bias in order to react to it accordingly in this coming LONDON and US Sessions.
current price at 1.10559
Direction : NEUTRAL, even though EU is still on UPTREND on the current market range which is the 5 minute range,and also new highs given on 4H and DAILY.
but given to its behaviour in this Asian Session, it produces multiple fails of confirmed entries at range 1.10954 to 1.10315.
Hence to movement of EU is still depending on wether it breaks the current high made or the previous low of the 5 minute range.
if price is able to break price level 1.10954 it will print a new 5 minute range to look and trade for opportunies to go LONG;
but if it breaks below price level 1.10315 we will then see the market prints a 15 minute timeframe pullback and we will be able to trade SHORT for the meantime until we see a break of structure to the upside.
until then we have to wait for its directional bias in order to react to it accordingly in this coming LONDON and US Sessions.
current price at 1.10559