Update on the previous analysis:
Previous analysis i said:
Current 4H candle might become a small sell signal (at first). Think if the current 4H candle closes below 1.213, we should see a bit more downwards pressure. Past day i had in mind, that if it doesn't break 1.22ish, there is a still a chance that the breakout of past weeks might get stopped and see some zig zagging coming weeks or more.
So needs a close below that green zone. Also when looking at the DXY chart, looks like a possible low being set (similar picture but upside down).
Think a first target then would be around 1.2050ish. As long as 1.19ish holds, the trend is up. If it breaks, we could see a period of zig zagging between 1.15/1.22
It almost reached that first target i mentioned, but so far there is just no real weakness. Though the question still is, will it clearly break the 1.22ish or not. If it doesn't, the scenario described in the previous analysis still stands. We can see on the left there is a possible triangle in play. Upside resistance is around 1.214 and support around 1.210.
Previous analysis:
Previous analysis i said:
Current 4H candle might become a small sell signal (at first). Think if the current 4H candle closes below 1.213, we should see a bit more downwards pressure. Past day i had in mind, that if it doesn't break 1.22ish, there is a still a chance that the breakout of past weeks might get stopped and see some zig zagging coming weeks or more.
So needs a close below that green zone. Also when looking at the DXY chart, looks like a possible low being set (similar picture but upside down).
Think a first target then would be around 1.2050ish. As long as 1.19ish holds, the trend is up. If it breaks, we could see a period of zig zagging between 1.15/1.22
It almost reached that first target i mentioned, but so far there is just no real weakness. Though the question still is, will it clearly break the 1.22ish or not. If it doesn't, the scenario described in the previous analysis still stands. We can see on the left there is a possible triangle in play. Upside resistance is around 1.214 and support around 1.210.
Previous analysis:
