Pre-London open price has tested the weekly Pivot Point at 1.0708.
The general plan is to see price move towards the Yearly PP
at 1.0830 as price found nice support by the Wedge floor and
the H4 Kumo Cloud as is seen on this chart. Of course, there
was a gap open and it is always unpleasant to go long if the gap
is below price and has not been closed (The friday close hasn´t been
tested). Clues, if daily R1 holds we might see further upside from here
with next resistance at 1.0757 (Weekly R1/Daily R2 confl.)
Gap is closed at 1.0689 which is also Daily PP. Note that MACD has
made a bullish crossing which adds to the upside pressure.
The general plan is to see price move towards the Yearly PP
at 1.0830 as price found nice support by the Wedge floor and
the H4 Kumo Cloud as is seen on this chart. Of course, there
was a gap open and it is always unpleasant to go long if the gap
is below price and has not been closed (The friday close hasn´t been
tested). Clues, if daily R1 holds we might see further upside from here
with next resistance at 1.0757 (Weekly R1/Daily R2 confl.)
Gap is closed at 1.0689 which is also Daily PP. Note that MACD has
made a bullish crossing which adds to the upside pressure.
