In yesterday's analysis, I discussed about possible rejection at 1.2144 minor resistance zone, but price breached through the resistance. Analyzing the recent price action in EU, we got that previous ascending channel broken down, indicate short-term bearish sentiment in the market. In today's trading session, will remain neutral bias as there's no clear directional bias. Currently looking for short-term selling opportunities, there are two scenarios that I am looking at
1. Further bullish momentum to re-test the 1.2215 minor resistance zone ONLY with clear rejection, with 1.2144 support zone as the initial target.
2. If price retraces to re-test the 1.2144 support zone, we could expect some further bullish continuation to the upside.
However, do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. Further bullish momentum to re-test the 1.2215 minor resistance zone ONLY with clear rejection, with 1.2144 support zone as the initial target.
2. If price retraces to re-test the 1.2144 support zone, we could expect some further bullish continuation to the upside.
However, do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
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Previous analysis
