Type : Bearish Drop
Resistance : 1.0314
Pivot: 1.0151
Support : 1.0005
Preferred Case: On the H4, as the price is below descending trendline and the MACD indicators are below zero, we have a bearish bias that price may drop from the pivot at 1.0151 where the 61.8% fibonacci retracement is to the 1st support at 1.0005, which is in line with swing low.
Alternative...
- price should retrace to the imbalance marked on chart and then bounce off that area
- looks weak at the moment but i believe it to be strong in the long run
My OTE entry for a swing long is towards the bottom of the area of imbalance below current price
in this market we have broken the VWAP indicator with force combined with a significant volume plus the market has a spring effect on the VWAP, means a very important buying opportunity towards the TP
I don't recommand buying euro in short period . We are protected with a strong resistance . The Euro has potential to go down in 15 minute period
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