the price can break the red zone by closing 4h under 1.1762 so the direction will be bearish to reach 1.1665 first station, but by stabilizing above it will try to reach 1.1865 if breaks 1.1870 then will go up to get 1.1921 and 1.1965
Thanks for the chart! I agree. For me, the COT data tells me that smart money is reducing sell positions and scaling in buys. Personally I’m on a sell with eyes on 1.15-1.16 but I’m also scaling in buy positions on the way down as I think this downtrend continuation is coming to an end after this push lower. We may range after that but I can see the downtrend being exhausted soon around pandemic lows.