Asset: EURUSD
Bias: Bullish
Price range: 1.0765 ~ 1.0735
Confluences;
Invalidation level: A close below 1.0730 opens the window for price to reach the 2023 Opening level, at that point we will recalibrate our analysis.
Volatility: On Tuesday morning the 2 biggest economies in the eurozone are releasing GDP figures, 8.5 hours later the US is set to release consumer confidence and job openings data. Massive day on Wednesday as both euro powerhouses are unleashing their inflation rate and later that night we have FOMC. NFP on Friday.
Bias: Bullish
Price range: 1.0765 ~ 1.0735
Confluences;
- 61.8% retracement of 2023’s 4th quarter bullish rally
- 100% extension of the first bearish wave from 28 Dec to 5 Jan (Healthy corrections appear in 2 equal legs) (Elliot wave) (Harmonics)
- The lowest level reached in Dec 23, price flirted but never closed below this level during Dec 23.
- 3rd touch emerging. It takes 3 touches to confirm a trendline, so with 2 touches so far we are anticipating a hold of this level, at least temporarily.
Invalidation level: A close below 1.0730 opens the window for price to reach the 2023 Opening level, at that point we will recalibrate our analysis.
Volatility: On Tuesday morning the 2 biggest economies in the eurozone are releasing GDP figures, 8.5 hours later the US is set to release consumer confidence and job openings data. Massive day on Wednesday as both euro powerhouses are unleashing their inflation rate and later that night we have FOMC. NFP on Friday.