ANALYSIS: Good morning there. The GU market will, probably, change its direction this morning as the price has created a double bottom in the higher timeframes like H4 and H1. A bullish pin bar has formed in the H1, showing us the reason to go long. Note: If you are going long on this pair, you can aim for 50pips to the upside for the first take profit. First TP:1522. Second TP:1595. These levels are where the price could potentially reach and react.
Strategy: Break and Retest.
Reason For This Bullish Bias: the trendline has been broken and is currently being retested and rejected. We also have a confluence of the trendline and horizontal line supporting the price.
Strategy: Break and Retest.
Reason For This Bullish Bias: the trendline has been broken and is currently being retested and rejected. We also have a confluence of the trendline and horizontal line supporting the price.
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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.