Entry: 108.250
SL: 108.100
TP: 108.500
H4: Price has broken the upward channel and briefly challenged Fib 1.414 (108.265) before being rejected. As of now, the price is hovering above Fib 1.272 (108.126) & below Fib 1.414 (108.265). If the candle closes above Fib 1.272, the price could possible continue its bullish momentum upwards to Fib 1.618 (108.464) or Psychological Level 108.500. Look into smaller TF for more confirmation. EMA has also shown strong momentum. The candlestick has alot of bullish momentum leftover. Immediate target at 108.5
H1: Price has shown a potential tweezer top formation on Fib 1.414 (108.265). It could be a sign of potential reversal to retest the resistance turned support at 108 level. However there is a strong bullish candlestick before the formation, therefore the reversal signal could be invalidated. EMA 10 is located at the 108 level. If price did retest it, it should find sufficient support to continue the bullish movement to the upside. Look into M15 for more information.
M15: Price has consolidated between Fib 1.272 (108.126) & Fib 1.414 (108.265). Price has bounced off both EMA to print a strong bullish candlestick, but it has been rejected again off the Fib 1.272.
SL: 108.100
TP: 108.500
M15: Price has consolidated between Fib 1.272 (108.126) & Fib 1.414 (108.265). Price has bounced off both EMA to print a strong bullish candlestick, but it has been rejected again off the Fib 1.272.
Trade closed: target reached:
TP reached as USD goes strong this week