EURUSD - Intraday - We look to Buy at 1.1138 (stop at 1.1103)
Price action continues to be mixed and volatile for 5 days in succession resulting in spikes in both directions. A Morning Doji Star formation has been posted at the low. The medium term bias remains bullish. Trading within a Corrective Channel formation. Trend line support is located at 1.1152. Posted a bearish Flag formation. A break of 1.1228 is needed to confirm the outlook. The formation has a measured move target of 1.1370. Bespoke support is located at 1.1137. The 50% Fibonacci retracement is located at 1.1138 from 1.1027 to 1.1250.
Our profit targets will be 1.1370 and 1.1400
Resistance: 1.1228 / 1.1249 / 1.1370
Support: 1.1152 / 1.1138 / 1.1112
Price action continues to be mixed and volatile for 5 days in succession resulting in spikes in both directions. A Morning Doji Star formation has been posted at the low. The medium term bias remains bullish. Trading within a Corrective Channel formation. Trend line support is located at 1.1152. Posted a bearish Flag formation. A break of 1.1228 is needed to confirm the outlook. The formation has a measured move target of 1.1370. Bespoke support is located at 1.1137. The 50% Fibonacci retracement is located at 1.1138 from 1.1027 to 1.1250.
Our profit targets will be 1.1370 and 1.1400
Resistance: 1.1228 / 1.1249 / 1.1370
Support: 1.1152 / 1.1138 / 1.1112
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