Bullish Channel: We're currently observing a bullish channel, with the price nearing its ceiling.
Key Levels: Pay attention to the concise of this month's R1, which has been broken, and the VAH of volume profile. These levels are pivotal for longer-term long positions and suggest refraining from short-term shorts.
Temporary Weak Bearish Phase: Despite a temporary weak bearish phase, expectations point to a strong rise by the middle of next week.
LTF Analysis: On lower time frames, watch for deeper corrections, offering opportunities for short trades.
CPI News Impact: Stay updated on CPI News, as surprises here could alter market dynamics significantly.
Wishing you profitable trades ahead!
Warm regards,
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There is no confirmation yet!
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Some bearish move are clear here!
you can set your short term bearish setup
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close some parts around 1.094
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Update:
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About the latest update:
We had great intraday opportunities to short the pair!
Nice days,
As mentioned before, after touching the red-line which is around 1.0904, we should be more cautions in taking short trades,
Two scenarios are expected! 1st: breaking over VAH and new-formed bearish red zone, in this case, a new bullish phase will start and the first TP would be middle of channel and the next TP would be around 1.09720.
2nd: this one is the most probable one and I'll expect a tradable range zone between 1.0900 and 1.0935. but the best place to long would be cluster of broken red zone, bottom of green channel and the red line!
Take care and stay updated!
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If you have opened a long trade regarding the 1st path, you better close some parts now!