DislikedIs that only me or we see some weaknees on 6e
4h uptrust , 90 min is buying climax
I would like to sell tomorrow on no demand or uptrust into 1.4077..Might also get in earlier around 1.4130 if we get today there
Hm?
1st TP around 1.4030 ...further around 1.3990Ignored
An argument could be made that the lows were rejected and that additional supply will be sought upwards. BUT, the drop from 1.51 to 1.18 last year is littered with similar such bars, that failed. IMO, the volume read on a day to day basis is a tough one, as we know we're not travelling far due to the bull-bear debate that's ongoing.
I'd like to see a downwards test towards the DPP 40533 and open as I mentioned, and that may be the possible bottom, or at least temporary one, before another attempt at reaching upwards. But I do agree, that (depending on the 5pm NY close), a reach of a minimum 30-40 pips south of there is reasonable. (ie, to your mentioned 407) We will have to see if risk is on or off for Asia and afterwards.
Oil might be breaking upwards - if so, EURUSD=oil more or less, and the USD should decline, helping create a bullish euro. But like I said, for me, I'm scaling in positions and trying to take out 30-50 pips here and there.