Hello dear Traders.
GY has given over 1000 pips last week and it passed through the consolidation zone. Now it lays to a strong demand level from which it can buy for a short-time correction.
For those of you you want to take buy trades be cautious because the prevailing trend has shifted to downwards.
The fact is that it didn't retested with respect previous important support zones to check them as a restistane and many big players will close theirs profits so it will rise a little bit.
However, is has broken trendlines of Daily and 4H TFs by establshing LH-LL structure.
So, my point of view in terms of this pair bias is clearly bearish for the medium term with respect to news of course, but we have to be patient and wait the price action to reach our POIs.
News can break upwards the 161 price area and retest it as support invalidating the abocementioned analysis.
Good luck and happy profits!
GY has given over 1000 pips last week and it passed through the consolidation zone. Now it lays to a strong demand level from which it can buy for a short-time correction.
For those of you you want to take buy trades be cautious because the prevailing trend has shifted to downwards.
The fact is that it didn't retested with respect previous important support zones to check them as a restistane and many big players will close theirs profits so it will rise a little bit.
However, is has broken trendlines of Daily and 4H TFs by establshing LH-LL structure.
So, my point of view in terms of this pair bias is clearly bearish for the medium term with respect to news of course, but we have to be patient and wait the price action to reach our POIs.
News can break upwards the 161 price area and retest it as support invalidating the abocementioned analysis.
Good luck and happy profits!