Monthly;We can see Price making HH on the monthly and that it broke out of the channel to come back testing the 1.333 zone where at that moment a strong absorption of demand occured. Expecting it to make HH to 1.415 as the next zone to look at and even possibility of it going right back to the wickfishing zone 1.466 where absorption of the demand took place the 2 last time price went there is existing.
Weekly; Even if the bullish diminished , price started wicking to the upside for the last 3 wicks, which means that the selling interest is declining.
Daily; SOS on the HH price is making appearing and absorption of supply on the retracement show that the composite ope.rator ( the market) has now buying interest.
Once price break 1.365 , a rally near 1.40000 - 1.41500. On the first week of February '16 when price tested the area , a strong absorption of supply occured, which is telling that a demand occuring a that zone has a high probability.
RIGHTNOW; price is at the part of the cycle of retracing the last LL . Now waiting to see if price support gonna maintain and if buying interest remains and if we could have a break upside 1.372 which would give us as next target 1.39000- 1.41500 that would allign with the 0.78% fibb level which will also be a retest of the upper trendline at the same time .
Weekly; Even if the bullish diminished , price started wicking to the upside for the last 3 wicks, which means that the selling interest is declining.
Daily; SOS on the HH price is making appearing and absorption of supply on the retracement show that the composite ope.rator ( the market) has now buying interest.
Once price break 1.365 , a rally near 1.40000 - 1.41500. On the first week of February '16 when price tested the area , a strong absorption of supply occured, which is telling that a demand occuring a that zone has a high probability.
RIGHTNOW; price is at the part of the cycle of retracing the last LL . Now waiting to see if price support gonna maintain and if buying interest remains and if we could have a break upside 1.372 which would give us as next target 1.39000- 1.41500 that would allign with the 0.78% fibb level which will also be a retest of the upper trendline at the same time .
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.
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.