I consider 144.00 level to be the current monthly resistance level. PA has proved this level to be a strong resistance previously. Switching between Daily, 4H and 1H chart I can see the reaction already as Head n Shoulders pattern forming below the 144.00 resistance. Yesterday price broke and closed below the 143.30 level, previously a resistance, turned to support after price broke the level to test the Monthly resistance 144.00.
So my idea is to look for a short trade from 143.80-143.90 zone.
In an intra day perspective, the price broke above the 143.53 resistance level with a nice momentum. Now if the support holds well (20 min until 1h candle close), I would expect to see the price within our entry area before the US session today. In an hour or so we have services PMI data release, which may give us the momentum needed to reach the 143.80 resistance level.
Look for any kind of momentum slowdown in the 143.80 area to enter shorts. Stops above the monthly key resistance.
Targeting the previous 4h resistance at 142.70 level.
So my idea is to look for a short trade from 143.80-143.90 zone.
In an intra day perspective, the price broke above the 143.53 resistance level with a nice momentum. Now if the support holds well (20 min until 1h candle close), I would expect to see the price within our entry area before the US session today. In an hour or so we have services PMI data release, which may give us the momentum needed to reach the 143.80 resistance level.
Look for any kind of momentum slowdown in the 143.80 area to enter shorts. Stops above the monthly key resistance.
Targeting the previous 4h resistance at 142.70 level.