In last 24 hours price drop down and break strong daily support at 1.1510. At the moment price moving in the range of 10 pips for the last 15 hours. We expecting that today price will hit next support at 1.1432 so around 40 pips lower from now. We will looking for the sell opportunity if the price hit again resistance at 1.1510 today.
We are still looking for potential intraday target at 1.1430 ( 110 pips target ).
Areas of consideration:
A fakeout of the current H4 supply zone to bring in sellers from September’s opening level at 1.1595/round number 1.16 is a possibility today (yellow zone represents a fakeout area).
A short from 1.1600s would place one against possible daily...
Weekly Gain/Loss: -1.23%
Weekly Close: 1.1602
Last week candle formed as BEOB – engulfing bar at resistance as it means that on 1.1800 a lot of sellers jump in the short positions. On Monday this week price just ranging from the H4 resistance at 1.1622 to the H4 support at 1.1570.
If we zoom to the daily chart we can see...
Let's check Eur/Usd the most tradable forex pair.
Last week pair moves from the high 1.1815 to the low 1.1570 so in the range of 240 pips. At the and of the week we have formed BEOB candle as strong signals for more bearish trend for this week.
As we already said that we have BEOB on weekly chart we also have,...