The trend is clear uptrend, based on the weekly and daily time frame.
At the 4 Hr time frame, we have RSI overbought, so we might see a retracement for the trend before its continuation to the upside.
The retracement scenarios are as follows:
1- Retrace to the BOS, coincide with the 50%/61.8% Fib level
2- Retrace at one of the FVG created at the uptrend push during Tokyo session, creating liquidity sweep with bearish wick.
3- Retest the AOI @1.9100, but if it reach this level, the trend might flip to bearish trend, as it will break the lower high @1.9170.
Need to carefully analyze the price action in each scenario to take the right decision of buy or sell.
Good Luck!
At the 4 Hr time frame, we have RSI overbought, so we might see a retracement for the trend before its continuation to the upside.
The retracement scenarios are as follows:
1- Retrace to the BOS, coincide with the 50%/61.8% Fib level
2- Retrace at one of the FVG created at the uptrend push during Tokyo session, creating liquidity sweep with bearish wick.
3- Retest the AOI @1.9100, but if it reach this level, the trend might flip to bearish trend, as it will break the lower high @1.9170.
Need to carefully analyze the price action in each scenario to take the right decision of buy or sell.
Good Luck!
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