The market is currently bearish and we expect to see more bearish pressure on market open come Monday 20th September.
Basing some of this analysis on EURUSD futures contracts, we expect to see slight pullbacks to 1.1800 and later possibly to 1.1940 region before we can see any further continuation to the downside.
//FOR DAY TRADERS//
---WAIT TO SEE WEEKLY...
Bias is bullish for EURUSD a lot of unfilled orders lying around 1.21000 area which makes it our target for short term profit taking. Stay winning gents and ladies.
As always dont stay married to your bias.
Looking at the chart, we have a HTF(M30 OB),Bullish momentum is getting killed offf. Zooming in to a m5 tf, we narrow down to a beautiful OB that gives us a "Sniper" type entry with minimal SL,Drawdown and maximum RR.(8 and 9 RR).
Comment on what your thought are and leave a like if you like my trade idea.
This pair is at a key reversal point and this being the third touch, could be a multi touch confirmation if we see strong bullish monemtum cosidering price is still in an impulsive phase. For now though , we just wait and see how price reacts at that level.
GJ is still in a corrective phase and from the nature of market, we expect to see further upward momentum for now. We watch patiently and await to see what happens at the indicated value areas. Price action is King and will tell us what to do when price gets there.