In the previous analysis, I discussed about further bullish continuation on GU, which was exactly what the market performed. In today's trading session, I will remain neutral bias while paying attention to potential pullbacks on GU due to the current over-extended condition. There are two scenarios that I am looking
1. In the long-term I am expecting a far target at 1.44, if price keeps moving upwards remember to follow the flow. Be aware of potential probe around 1.4036 (19th Feb high) resistance zone, always buy the dips not during an impulse (Bullish)
2. As mentioned, I noticed that GU is currently quite over-extended, I will be favoring short-term rotation or mean reversion setups towards 1.3950 & 1.3855 minor support zone, OR potentially a re-test of 50ema for further continuation to the upside (Bearish)
Do not forget the overall trend on the higher timeframe remains bullish.
The key trait to become a successful trader is to avoid following the crowd, be an independent thinker.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. In the long-term I am expecting a far target at 1.44, if price keeps moving upwards remember to follow the flow. Be aware of potential probe around 1.4036 (19th Feb high) resistance zone, always buy the dips not during an impulse (Bullish)
2. As mentioned, I noticed that GU is currently quite over-extended, I will be favoring short-term rotation or mean reversion setups towards 1.3950 & 1.3855 minor support zone, OR potentially a re-test of 50ema for further continuation to the upside (Bearish)
Do not forget the overall trend on the higher timeframe remains bullish.
The key trait to become a successful trader is to avoid following the crowd, be an independent thinker.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Comment:
Previous analysis
