For my trade journal only, use good MM
On the longer time frames the sentiment appears bearish, with the monthly and weekly charts strongly indicating this.
On this much shorter time frame we have a number of potential opportunities on the near term horizon.
1. A corrective breakout of the move to the downside
2. A possible buy opportunity on the bounce, long for a pullback to the daily resistance around the 1.07000 level.
3. A sell opportunity at the 1.07000 level
4. A breakout above the daily resistance (Wait for a strong confirmation)
5. Price may break down through the 1.0615 and the bearish move continue in which case I will look to enter short
On the longer time frames the sentiment appears bearish, with the monthly and weekly charts strongly indicating this.
On this much shorter time frame we have a number of potential opportunities on the near term horizon.
1. A corrective breakout of the move to the downside
2. A possible buy opportunity on the bounce, long for a pullback to the daily resistance around the 1.07000 level.
3. A sell opportunity at the 1.07000 level
4. A breakout above the daily resistance (Wait for a strong confirmation)
5. Price may break down through the 1.0615 and the bearish move continue in which case I will look to enter short
Comment:
Consolidating nicely waiting for a confirmation signal
