In yesterday's analysis, I discussed about the clusters of SL area where market could potentially create a probe to takeout these buyers while attracting/ trapping some breakout traders, which was exactly what the market performed. In today's trading session, I will be focusing on short-term buying opportunities. As long as 0.7178 minor support zone & higher low sequence remain intact, it shows the amount of buyers trying to defend it. These are the two possibilities that I am looking at
1. Finding bullish momentum pushing price back towards 0.7240 resistance zone (Bullish)
2. If price shows some grinding bearish pressure below 0.7160, that will invalidate the long setup (Bearish)
The current condition on NU is slightly range bound, avoid going into lower timeframe due to the amount of false signals and confusion. Do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. Finding bullish momentum pushing price back towards 0.7240 resistance zone (Bullish)
2. If price shows some grinding bearish pressure below 0.7160, that will invalidate the long setup (Bearish)
The current condition on NU is slightly range bound, avoid going into lower timeframe due to the amount of false signals and confusion. Do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
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