Interesting zone seen around 1.22/1.2250
The pair, as you can see, sustained further losses during the course of yesterday’s sessions. After enduring and finally conquering the 1.23 handle in recent trade, the H4 mid-level support at 1.2250 is in firing range. What’s interesting here is the fact that this H4 level also fuses with a H4 AB=CD 127.2% Fib ext. at 1.2244 taken from the high 1.2706, and of course, the nearby 1.22 handle (yellow box). This – coupled with price also trading within the lower limits of a daily demand seen at 1.2252-1.2342, and also considering that 1.22 represents a weekly Quasimodo support, we believe the bulls may make an appearance from here today.
Our suggestions: Quite simply, watch for buyer intent to form within the above noted H4 yellow zone. We personally will want to see a reasonably sized H4 bull candle form, before pulling the trigger. Of course, this does not guarantee a winning trade, but what it will do is show buyer intent within a high-probability reversal zone.
Data points to consider: UK construction PMI at 9.30am. US Jobless claims at 1.30pm GMT.
Our suggestions: Quite simply, watch for buyer intent to form within the above noted H4 yellow zone. We personally will want to see a reasonably sized H4 bull candle form, before pulling the trigger. Of course, this does not guarantee a winning trade, but what it will do is show buyer intent within a high-probability reversal zone.
Data points to consider: UK construction PMI at 9.30am. US Jobless claims at 1.30pm GMT.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.