Possible CYPHER PATTERN. EURUSD as been going side way for a few weeks now. I am expecting for bullish movement because i am expecting some weakness from the USD dollar. -- I won't be LONG on this pair for now because the BEAR impulse As been pretty strong. I prefer to wait for the next SHORT.
Based mostly on Market Profile and Price Action (daily charts) the strongest levels for short swings are 1.0710 and 1.0765. Heavy volumes were traded between those levels (accumulation) followed by strong rejection of higher prices resulting into renewed sell-off. I think that the sellers will be active there again.
Only thing to watch out for is ECB meeting on Thursday. Basically anything can happen there and I won't be trading during this event.
You can see my analysis here:
Only thing to watch out for is ECB meeting on Thursday. Basically anything can happen there and I won't be trading during this event.
You can see my analysis here: