In higher timeframe (H4,D) market is oversold. Yesterday price went to balance price on H4 between a high at 1.04884 and 1.03669 it returned/reversed at 80% fib level. We still anticipate price to reach for our H4 OB before it can go reach for lower low at 1.03495.
Keep in mind that this is the first week of the month therefore we anticipate price to go opposite direction of the overall direction to trap traders on opening of the market.
Keep in mind that this is the first week of the month therefore we anticipate price to go opposite direction of the overall direction to trap traders on opening of the market.
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