This week we’re still watching EURGBP as last week price dropped into the demand level I indicated. EU and GU may also be in play too.
EURGBP – Long
We have a quality demand level on the daily chart and I already took a short term trade from the level. which you can see below:
Entry was a bit late but still got 3:1 on it.
We could still see a rally much further so here’s the daily view.
EURJPY – Long
EJ has been rallying strong for a little while now and is heading towards a bit of resistance. Beyond that is a clear run of red candles (profit potential). If price engulfs the level then we could possibly trade long up through the profit zone.
EURUSD – Short
EU is edging closer to the supply level from last week. We currently have a run of green candles so if that continues we could have a short trade if there’s a reversal.
GBPUSD – Short
Like EU, GU is almost at supply. We do have a red candle right below the level however which we normally don’t like to see. If price engulfs this after hitting supply, it may still be viable.
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