Hey, traders. Thank you for comments and boosts.
Today's chart is Euro. Let's check it quickly.
We can see
1. the ascending channel.
2. the price rebounding from middle line of the ascending channel. (this was our second target for long position)
3. the resistance on 1.09000 which is top line of the ascending channel.
We should check
Thursday - Core CPI (MoM) (Dec), CPI (YoY) (Dec), CPI (MoM) (Dec), Initial Jobless Claims
Friday - UK GDP (YoY), UK Manufacturing Production (MoM) (Nov)
We can expect
1. upward movement to 1.09000
2. downward movement by resistance on 1.08000
As we thought, there was rebounding from middle line of the ascending channel.
We are holding our long position from 1.05000 and it seems like time to close our position soon.
There are two strong resistance on the chart which are on 1.08000 and 1.09000, and those lines are where we close our position.
After closing our position, we will wait for the short position from 1.09000 which is top resistance of the ascending channel.
Let's see if we can close our position from where we want and have short position from where we mentioned.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Today's chart is Euro. Let's check it quickly.
We can see
1. the ascending channel.
2. the price rebounding from middle line of the ascending channel. (this was our second target for long position)
3. the resistance on 1.09000 which is top line of the ascending channel.
We should check
Thursday - Core CPI (MoM) (Dec), CPI (YoY) (Dec), CPI (MoM) (Dec), Initial Jobless Claims
Friday - UK GDP (YoY), UK Manufacturing Production (MoM) (Nov)
We can expect
1. upward movement to 1.09000
2. downward movement by resistance on 1.08000
As we thought, there was rebounding from middle line of the ascending channel.
We are holding our long position from 1.05000 and it seems like time to close our position soon.
There are two strong resistance on the chart which are on 1.08000 and 1.09000, and those lines are where we close our position.
After closing our position, we will wait for the short position from 1.09000 which is top resistance of the ascending channel.
Let's see if we can close our position from where we want and have short position from where we mentioned.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
The price reached top line of ascending channel.
I'm expecting the price drops from now.
Let's see if the ascending channel shows extending or just keep it.