Hello good people,
Got time today to update you on EUR/USD. Yesterday EUR/USD didn't have the power to sustain the breakout of the 4-day balance and the price returned to the POC as like I warned you that it might happen. This is basically the sign of strength. Anyway, watching today development, I have found that value is building higher (overlapping to higher) and we got poor high at the price of 1.1515. Also, there is a fat today's POC at 1.1508 and since the EUR/USD is trading at 1.1492, intraday traders are selling below the POC (potential intraday trap). If you collect all the pieces, you can find that buyers are slowly taking control from the sellers and potential recovery rally might happen on EUR/USD. I won't be surprised to see that price back and take current daily high at 1.1515 and continue higher till the end of the day.
The short-term upper references are set at 1.1550 and 1.1592 (5-day balance high)
Balance trading rule is active. Price looked below the 4-day balance and failed, expect a test of the other side of the balance.
If you have any question in relation to this analysis or mentorship program, feel free to ask >
Best Regards,
Petar
Got time today to update you on EUR/USD. Yesterday EUR/USD didn't have the power to sustain the breakout of the 4-day balance and the price returned to the POC as like I warned you that it might happen. This is basically the sign of strength. Anyway, watching today development, I have found that value is building higher (overlapping to higher) and we got poor high at the price of 1.1515. Also, there is a fat today's POC at 1.1508 and since the EUR/USD is trading at 1.1492, intraday traders are selling below the POC (potential intraday trap). If you collect all the pieces, you can find that buyers are slowly taking control from the sellers and potential recovery rally might happen on EUR/USD. I won't be surprised to see that price back and take current daily high at 1.1515 and continue higher till the end of the day.
The short-term upper references are set at 1.1550 and 1.1592 (5-day balance high)
Balance trading rule is active. Price looked below the 4-day balance and failed, expect a test of the other side of the balance.
If you have any question in relation to this analysis or mentorship program, feel free to ask >
Best Regards,
Petar
"Buy on fear, sell on greed !!!
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