EURUSD H4 - Important Levels for NFP
Okay guys, for many brokers the next 4 hour candle will be forming inside NFP session. For some brokers it could be slighlty different but still the chart provides a birds eye view for the important levels that could be touched once NFP data comes out.
I see 2 potential "Expanding Triangles", one is larger and on the outside encapsulating the smaller one. Both are important in the way from which side price would breakout, so it would be wise to be aware of these expanding channels.
I believe the smaller expanding triangle range is the most important one for today. Overall my bias is on the bearish side but first I want to see what bulls will do as soon as data comes out. Assuming that good data will automatically drop the currency would be a terrible mistake because many times in the past we have watched how unexpected the market reacted to red data. So don't assume, just wait and see and confirm before you take a step.
Wishing you all luck and success.
*Blue lines are support, red lines are resistance. Thicker lines define levels with higher importance.
Stay Green
Okay guys, for many brokers the next 4 hour candle will be forming inside NFP session. For some brokers it could be slighlty different but still the chart provides a birds eye view for the important levels that could be touched once NFP data comes out.
I see 2 potential "Expanding Triangles", one is larger and on the outside encapsulating the smaller one. Both are important in the way from which side price would breakout, so it would be wise to be aware of these expanding channels.
I believe the smaller expanding triangle range is the most important one for today. Overall my bias is on the bearish side but first I want to see what bulls will do as soon as data comes out. Assuming that good data will automatically drop the currency would be a terrible mistake because many times in the past we have watched how unexpected the market reacted to red data. So don't assume, just wait and see and confirm before you take a step.
Wishing you all luck and success.
*Blue lines are support, red lines are resistance. Thicker lines define levels with higher importance.
Stay Green
Attached Image (click to enlarge)
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I am continuing to add longs for next week ECB. . So far I have .119, .123 , 10 contracts each. I really think this pair should be higher based on many things.
(123%, 138%, 161.8%...)
