With the recent surge upwards of the Euro over the past 10days, Price is now approaching a key resistance zone;1.17743 area. Here 2 things might occur;
1. Price could reject the resistance and make a pullback to take a 'breather' from the bullish momentum and retest the broken trendline forming a HL and continuation of the uptrend.
2. Bullish momentum may persist and the resistance zone completely breached to continue moving higher.
Important to note that the bullish bias will no longer be valid if price breaks and closes below 1.15253 Daily level
1. Price could reject the resistance and make a pullback to take a 'breather' from the bullish momentum and retest the broken trendline forming a HL and continuation of the uptrend.
2. Bullish momentum may persist and the resistance zone completely breached to continue moving higher.
Important to note that the bullish bias will no longer be valid if price breaks and closes below 1.15253 Daily level
Trade fermée manuellement
We failed to make a retest of the trendline and price continued to rally down to my point of interest;1.15253 which will determine final bias and ultimately lead to opening of positions based on how price action behaves on this zone