We still haven’t quite made it to the key institutional level of 1.1080, we stalled just shy of it before the close on Friday. The start of the week was bullish (DXY inverse correlation). This enticed a lot of people into long positions and stopped out any early sellers. Notice on the higher timeframes, this was merely a correction in the recent downtrend, we still have equal lows and sell side liquidity to raid just below where the rally begun in late December.
Much like last week, I’m anticipating false moves going into the start of the week, perhaps enticing everyone into long positions again. Eyes on 1H and 4H for stop hunts, followed by mitigation and then more downside.
Much like last week, I’m anticipating false moves going into the start of the week, perhaps enticing everyone into long positions again. Eyes on 1H and 4H for stop hunts, followed by mitigation and then more downside.