In the previous analysis, I expected EU to have further bearish pressure testing the bottom band of the ascending channel/ correction flag pattern, which was exactly what the market performed. In today's trading session, I will remain neutral bias. There are two setups that I am looking at
1. The recent price action of EU has been choppy, be aware that we might see a probe to re-visit the top band of the channel (Bullish)
2. To activate any short-term sell setups, the channel/ flag must be clearly breached. The best way is to observe today's market movement to decide any directional bias. A retracement entry (bottom band) with bearish candlestick pattern could be your entry trigger to short, with 1.2033 & 1.1959 both support zones as our target.
The overall trend on the higher timeframe remains bullish. Stay reactive.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. The recent price action of EU has been choppy, be aware that we might see a probe to re-visit the top band of the channel (Bullish)
2. To activate any short-term sell setups, the channel/ flag must be clearly breached. The best way is to observe today's market movement to decide any directional bias. A retracement entry (bottom band) with bearish candlestick pattern could be your entry trigger to short, with 1.2033 & 1.1959 both support zones as our target.
The overall trend on the higher timeframe remains bullish. Stay reactive.
Trade safe.
Do follow my profile for daily fx forecast & educational content.