This week we had higher highs, higher lows and higher close, this might be a sign of an uptrend.
This week the pair went to L1 and L2 of the camarilla and had a bounce there which was on Monday, and then accordingly it had to go the other way to test H1, H2, H3, H4, and it happened, prices had visited the 4 levels and broke the H4 (209.20) and went to 210.73, this can be also a sign of an uptrend, so by any means I mentioned yesterday, that even if prices drop down, we won't see it coming back to L1 (206.40) or even near to it at least this week
The open prices of this week was 206.03, the next level is 207 and there was no retracement, then followed by 208, again there was no retracement, then 209, also no retracement happened, then 210, it retraced back to 208.58, then bounced up and went to 210 level again, this is also a sign of an uptrend.
But on the otherside, today 210.70 was the key for it to go up, it didn't reach it, only reached 210.60, and the higher high was 210.40, it strived to break 210.40 today several times but it failed even the time of the release of the beige book report, it touched it but failed to break it, so this means that I have 2 levels tommorow, 210.40 to go upward and 209.40 the low of the day to go downward
Regarding 210.40 if it was broken by tomorrow we might have 2 scenarios, either prices will strive to reach 211 or more, or if it failed this will be the begining of the drop which will be continued by next week
That was my view and I'll place orders on both levels and see
This week the pair went to L1 and L2 of the camarilla and had a bounce there which was on Monday, and then accordingly it had to go the other way to test H1, H2, H3, H4, and it happened, prices had visited the 4 levels and broke the H4 (209.20) and went to 210.73, this can be also a sign of an uptrend, so by any means I mentioned yesterday, that even if prices drop down, we won't see it coming back to L1 (206.40) or even near to it at least this week
The open prices of this week was 206.03, the next level is 207 and there was no retracement, then followed by 208, again there was no retracement, then 209, also no retracement happened, then 210, it retraced back to 208.58, then bounced up and went to 210 level again, this is also a sign of an uptrend.
But on the otherside, today 210.70 was the key for it to go up, it didn't reach it, only reached 210.60, and the higher high was 210.40, it strived to break 210.40 today several times but it failed even the time of the release of the beige book report, it touched it but failed to break it, so this means that I have 2 levels tommorow, 210.40 to go upward and 209.40 the low of the day to go downward
Regarding 210.40 if it was broken by tomorrow we might have 2 scenarios, either prices will strive to reach 211 or more, or if it failed this will be the begining of the drop which will be continued by next week
That was my view and I'll place orders on both levels and see