1hr below shows the potential upside obstacles...as mentioned earlier the Weekly, Monthly and Daily Pivots are all positioned @/around 5878-84.
G/L
G/L
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DislikedBroadening triangle on M5 and H4. A very confused market. Some traders see it as a fix. It's just a market. If you think they are out to get you, get a job planting spuds
Below we have dynamic support line from January. This will be influential. We also have various bullish divergence as pointed out by bbmac. Always consistent. Thanks also to other chart posters.
We also have horizontal support, tested a few times, burst in March. My guess is we bounce from here, but not very high. I like the grey box area,...Ignored
Dislikedcheck out the usd news today.. everything forecasted lower than previous months numbers.. not a good sign for USD. If releases are lower than forecasted we can see a big fall in the dollarIgnored
DislikedConversely if the scenario you describe plays out the market could turn 'risk off' with such U.s data further pointing to a 'bumpy' recovery there at best and with potential trouble brewing in Spain, they could decide to buy 'less risky assets' like $ (!) ...trade what you see - not what you think.
G/LIgnored
Dislikedcable has to sustain trading above 5850 for this minor bullish view to take place or else we might have consolidation..Ignored
Dislikedcheck out the usd news today.. everything forecasted lower than previous months numbers.. not a good sign for USD. If releases are lower than forecasted we can see a big fall in the dollarIgnored
Disliked850? While E/U and U/C made that H1 candle? I guess not..until US news at least...Ignored
DislikedIntraday buys? For which targets?
There is so much lines of various importance in between 850 and 930..Ignored
Dislikedmy point is don't go too aggressive on long.. since it's actually picking bottom.. the first minor signal for bullish will be price trading sustainably above 5850..Ignored
DislikedNo these are possible buy areas for 200-450 pips which I generally look for.
I'm eyeing off 5769, 5693, 5625 and 56, but I won't know until we get there. main point of my post was that buys at this level seem risky due to bearish pressure and very recent price action.Ignored