Eur/Usd! The reaction off 1.08927 was quite dramatic last thursday and friday. Intro/Monthly TF 0:0 Weekly Timeframe 4:05 Daily timeframe 6:29 4hr timeframe 9:29 1Hr timeframe 11:33 Price has retraced and since dipped into a 4hr zone 1.08011. It bounced here on friday and the price action consolidated after that. It is possible that we may observe more sideways movement before another continuation. I liken a continuation for buyers because of sentiment moving out of last week due to cad news. It is quite normal to see a reaction off a daily zone like we observed on thursday and friday and it could very well be just a pullback in an uptrend. Caution however! Not Financial Advice. Education Purposes Only.
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Turned out be great continuation buys earlier in the week here. We are 1.5 hours away from NY open on 2/26/24 and price has cleared the clean traffic range that extended from 1.0835 to 1.0855. Difficult to discern where we are headed from here. Wll stay flexible with approach.
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End of Monday's trading. Consolidation after price increased to 1.0855 4hr Resistance zone