Here Is the Idea
Target - We have tons of equal highs on the monthly and I believe we will be making a run for them this week or at least sometime this month.
I like the fact we respected an old support level + cleared 3-4 weekly lows + reversed on them and closed above.
This is the type of behavior I like to see. The close above the lows shows not only were the lows bought up, but price should remain above them now as institutions protect their positions.
The next logical target is 118-119 which is about 300-400 pips north of price.
Last week we also made a new high after clearing the lows.
It also helps the Yen looks weak overall for this week, and maybe next. The swiss also looks strong across the board. Strong/Weak= ^
Target - We have tons of equal highs on the monthly and I believe we will be making a run for them this week or at least sometime this month.
I like the fact we respected an old support level + cleared 3-4 weekly lows + reversed on them and closed above.
This is the type of behavior I like to see. The close above the lows shows not only were the lows bought up, but price should remain above them now as institutions protect their positions.
The next logical target is 118-119 which is about 300-400 pips north of price.
Last week we also made a new high after clearing the lows.
It also helps the Yen looks weak overall for this week, and maybe next. The swiss also looks strong across the board. Strong/Weak= ^
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Each week, I send an email breakdown of the best forex setups, watch zones, and market trends so you can trade with confidence.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.