Looking at where price is there are a few levels that are jumping out.
The first area is the 1.17400 level, there was a strong move down from this level, looking left however there has been a lot more activity in this area which leads me to believe that although there could be a good opportunity here there is a better and untouched area at 1.19250 area.
If ...
The 1.12000 level has only just been touched and rejected so this could offer another area to get long. However the untouched area that would offer a better low risk chance of a turn would be down at the 1.10200 level.
The highest point offering great shorting opportunities is way up at the 1.22800 area
Price has been ranging sideways between 0.9600 and 0.95700 this shows me that there is potentially a chance price may break lower.
There is a fresh Zone at the 0.9300 level which has had one tiny test and bounced from this level. If price shows signs of rejection at this level it could be a good place to get long to the 0.96900 level.
If price were to break to ...
Price found the 1.14500 level this week as a hard area to push past, overtime price got to the level it found strong selling pressure.
For the most part price has been ranging between 1.1§300 and 1.14500
Two areas that I have got my eye on are firstly the lower Demand zone at 1.12200 when price found this area last, there was strong buying pressure and shows ...
Price has rejected the Weekly zone and then we have also see a test of the Daily zone with another rejection, this gives some indication that this level has more sellers that buyers.
Based on this price could fall and test the 4hr zone
Price is currently in the middle of 2 weekly zones which have both been tested at least 3 times.
The upper zone is a zone from Nov 2009 and has had some big drops in the past, because of this we may not see strength at this level.
We are seeing price respect a daily level, due to the zone below having been test 3 times, we could see price make a break lower to ...
Price is currently in-between 2 Zones currently, price has touched and rejected the Weekly area 3 times but hasn't moved away with any real force.
Price could re test then move to the lower level, as it stands I will wait and see which way price decides to move before looking for any entries
Price has now touch and rejected the current weekly zone 3 times, if we see a further test of this area then we could see prices break lower to the fresh zone below, similar to the DXY breaking higher to the higher zone.
If price does respect this level there is a 4 hr zone to be aware of
Price has rejected the weekly zone with a nice wick, there are a couple of 4hr zones to be mindful of but if price respects the weekly zone could see some higher price this coming week
First idea publishing lol
Zone to Zone £$£$
Chart should be pretty self explanatory...
Entered my position last night before i went sleep and forgot to publish lol but i believe we can re enter the trade next week so lets see how it turns out.
Will keep you all updated in the comment section below. Have a great weekend!
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
