In yesterday's analysis, I expected GU to reject the 1.39880 resistance zone (previous swing high), which was exactly what the market performed. In today's trading session, I will be focusing on short-term selling opportunities.
1. If there's strong bearish momentum, a re-visit of yesterday's low at 1.3860 minor support zone is expected (Bearish)
2. If GU finds bullish momentum breaking above the 1.39880 resistance zone, that'd invalidate the short setup.
The higher timeframe picture remains bullish, I'm only trying to capitalize on the short-term bearish sentiment in the market.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. If there's strong bearish momentum, a re-visit of yesterday's low at 1.3860 minor support zone is expected (Bearish)
2. If GU finds bullish momentum breaking above the 1.39880 resistance zone, that'd invalidate the short setup.
The higher timeframe picture remains bullish, I'm only trying to capitalize on the short-term bearish sentiment in the market.
Trade safe.
Do follow my profile for daily fx forecast & educational content.