Hello traders welcome back to another Analysis.
//// 0:0 Monthly/Introduction
1:06 Weekly Timeframe
2:24 Daily timeframe
2:58 4Hr timeframe
4:15 1Hr timeframe
//// We have upcoming (USD) PMI manufacturing data during the next NY session to look out for. It is expected to expand overall but decrease slightly from the last data point. Coming out of last Friday and during Monday's price action we observed Risk on sentiment with the Eur being favored. Maybe this will come to a halt, and during today's price action we will see a retracement back down with the positive expected USD data. If Risk-On sentiment continues, a candle closure above 1.086 on the 1hr and especially the 4hr may confirm solid long orders up to the next daily level (1.0888).
//// 0:0 Monthly/Introduction
1:06 Weekly Timeframe
2:24 Daily timeframe
2:58 4Hr timeframe
4:15 1Hr timeframe
//// We have upcoming (USD) PMI manufacturing data during the next NY session to look out for. It is expected to expand overall but decrease slightly from the last data point. Coming out of last Friday and during Monday's price action we observed Risk on sentiment with the Eur being favored. Maybe this will come to a halt, and during today's price action we will see a retracement back down with the positive expected USD data. If Risk-On sentiment continues, a candle closure above 1.086 on the 1hr and especially the 4hr may confirm solid long orders up to the next daily level (1.0888).
Comment:
Asian Session open has seen a retracement off the 1.086 4hr zone .. also the high of the range, will this continue into London session? we do need a bottom wick on the Weekly candle, also USd data expected positive
