EU will make a new low before new upside.
As we can see 1.1074 is 50% PD of this structure, if 1.1074/77 holds we will get a new low. We had a recent rejection of ema50 1h, is a signal.
we still on discount area, and still pointing downside, but monthly still bullish, so this is a correction and not a reversal. So what i expect in case 74/77 will hold, will be a test on 1.1010 or 1.10 psicological level, 1,0990 on extension and after upside above 1.11.
As we can see 1.1074 is 50% PD of this structure, if 1.1074/77 holds we will get a new low. We had a recent rejection of ema50 1h, is a signal.
we still on discount area, and still pointing downside, but monthly still bullish, so this is a correction and not a reversal. So what i expect in case 74/77 will hold, will be a test on 1.1010 or 1.10 psicological level, 1,0990 on extension and after upside above 1.11.
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setups on chart
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Plan update - EU on discount area. Bellow 1.11 our preference are shorts with final targets at 1.0980/1.1000.Waiting to short at 72/77 on asia inducement asia high. With low as target. After will buy at 1.0980/1.1010 area, with 1.1135 as target.
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after 1.1136 i expect going down to 1.1000 area or bellow to test the bottom of structure.Trade active
targets: 1.1110 or 1.1136
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still same plan
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in SMC terms, we broked structure for upside yesterday at 1.1064 area. But can be Also a ""TRAP"". In case SMC are right (red line) We must retest golden area at 1.1045-1,1055 area and after reversal to go to 1.1136. In case is a ""TRAP"" (blue line), we must go to golden area, a small pullback to attract buyers, and after 10/20 pips, a return to downside to trap buyers broking golden area, with 1.1010 direction. Let see If this is a trap or not.
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EU Plan update - Price still breaking structures (BOS) for upside. 1.1125/35 is critical area. 1.1130 will invalidate shorts and if broken we will go to test OB- at 1.1150 area. If we reject at 1.1125/30, we will go to 1.1050 golden area to test it, and if broken we can get 1.10 and 1.0950. Trade active
BEARISH SCENARIO - Price still breaking structures (BOS) for upside. 1.1125/35 is critical area. Above 1.1136 will invalidate shorts and if broken we will go to test OB- at 1.1150 area. If we reject at 1.1125/30, we will go to 1.1045/55 golden area to test it, and if broken we can get 1.10 and 1.0950. (INVALIDATED ABOVE 1.1136)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.