1Hr Chart
Strong push from the Bears, and we hit the 1.095 area of resistance. As you can see from the chart we are still above the nearest order block as support, and that corresponds with the 50% fib retracement on the 4hr chart along with the converging 100ma and 200ma rising to meet. (Can't ignore that much confluence in one zone!)
I expect consolidation here before a run at the 50% fib on the 4hr (1.0931) and maybe a stretch below if there aren't enough orders to make it pop. I'll be looking to get long around this zone. Target will be the next fib up on 4hr 38.2% (1.0980). Will need additional confirmation of continuation(Go Bulls!) so it will be an in and out as if just a retracement.
Good luck with your positions all!
Strong push from the Bears, and we hit the 1.095 area of resistance. As you can see from the chart we are still above the nearest order block as support, and that corresponds with the 50% fib retracement on the 4hr chart along with the converging 100ma and 200ma rising to meet. (Can't ignore that much confluence in one zone!)
I expect consolidation here before a run at the 50% fib on the 4hr (1.0931) and maybe a stretch below if there aren't enough orders to make it pop. I'll be looking to get long around this zone. Target will be the next fib up on 4hr 38.2% (1.0980). Will need additional confirmation of continuation(Go Bulls!) so it will be an in and out as if just a retracement.
Good luck with your positions all!
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