Bias: Long
Entry: 109.5
TP: 110/110.5
Sl: 109
Analysis: In the first 2 week of April, the price has been in consolidation range as it is undecided on its direction.
The pair has shown very strong bullish momentum from Monday to Wednesday in response to positive USD released. The rise continue until Thursday where it reach the resistance at psychological level 109.500. At that point it struggle to pullback below possibly form another swing. However it failed to form the HH swing as it close showing rejection to the psychological level 109. If the US news is positive the price will break out of the current consolidation and move to the upper resistance 110 and possibly higher. If negative it will trigger a sell off to 108.5 / 108.
D1: Previous candlestick has tried to pullback to below 109 but failed to do so as it is rejected off 109. Todays news will decide the overall direction of it.
Entry: 109.5
TP: 110/110.5
Sl: 109
Analysis: In the first 2 week of April, the price has been in consolidation range as it is undecided on its direction.
The pair has shown very strong bullish momentum from Monday to Wednesday in response to positive USD released. The rise continue until Thursday where it reach the resistance at psychological level 109.500. At that point it struggle to pullback below possibly form another swing. However it failed to form the HH swing as it close showing rejection to the psychological level 109. If the US news is positive the price will break out of the current consolidation and move to the upper resistance 110 and possibly higher. If negative it will trigger a sell off to 108.5 / 108.
D1: Previous candlestick has tried to pullback to below 109 but failed to do so as it is rejected off 109. Todays news will decide the overall direction of it.