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.
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...
Im currently in a short sell from the current zone at the 1.14500 level entry was at 1.14600 my Target is 1.13800
The reason Is this has the highest probability of being hit.
After this area we have got a demand zone which has been used twice already, potentially this could now fail and see prices push to the lower zone on the daily at the 1.12100 level.
Having a look a the bigger picture on the 4hr and daily I have closed the Long Trade I had.
Looking at the Daily there potentially is a further drop of around 50 pips before we could see price rally up.
When price last tested the 109.800 level price had a larger 475 pip move to the upside. This zone was rejected instantly the first time it was tested and due...
Seen strong selling at the recent test of the price zone of 4k
the origin of the move was down back a the lows of around the 3400k level
If price pushes back here there is a lower risk long position from here to re test 4k and if weakness is found go and test 5.5k levels
Looking at how price has been moving I feel that we could see price push back down towards the last zone at 0.34500 level before we see a potential break higher towards 0.44
There were a lot of sellers at the 0.4 level and since we have already seen a small bounce from 0.35 this area appears to hold some weakness. If there was strong buying sentiment at this...
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...
Having a look at where price is currently.
Price has been finding selling pressure at the zone in the middle at the 1.2700 level. The first 2 touches of this price has shown that there are a lot more selling, further to this on the 3rd attempt at this zone, price found pressure a few pips lower.
Between 1.2700 and 1.2600 price has started o move sideways with...
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