In yesterday's analysis, I discussed about the support zone at 0.7637, the price is currently sitting around the area. In today's trading session, I will be looking for short-term buying opportunities. Two scenarios that I am looking at
1. If the bullish momentum is strong creating a double bottom rejecting 0.7635 minor support zone, that could indicate a long-term bullish continuation setup with 0.7815 resistance zone as the target (Bullish)
2. However, if sellers step in and break below the 0.7635 minor support zone, further bearish rotation towards 0.7588 is expected.
The higher timeframe picture remains bullish. Be flexible.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. If the bullish momentum is strong creating a double bottom rejecting 0.7635 minor support zone, that could indicate a long-term bullish continuation setup with 0.7815 resistance zone as the target (Bullish)
2. However, if sellers step in and break below the 0.7635 minor support zone, further bearish rotation towards 0.7588 is expected.
The higher timeframe picture remains bullish. Be flexible.
Trade safe.
Do follow my profile for daily fx forecast & educational content.