USD strength on Fear surrounding Israel Airstrikes 🗒️

19 Nis

Hello traders.. Unfortunately, as War Conflict continues in the Middle east, the USD is feeding on the Fear and Uncertainty by acting as a safe haven during the final Asian session of the week. Earlier & During NY today, roughly 20 minutes before NYSE open, at price 1.06638, I created an update to our previous EurUsd Analysis. I mentioned that price may instead be retracing back towards 1.06345. The reasons were clean traffic to the left on the 1hr/4hr, the bearish 4hr candle close(that engulfed the 3 previous 4hr candles), 1hr resistance zone 1.06855 was respected during London Open, and most importantly perhaps was that we created a bearish scenario for a selloff prior to it occuring--> price may close below 1.0669 1hr support zone & do a retest before heading down. This is exactly the scenario that played out. Now here we find oursleves back at the lows of structure and the weekly candle is about break even. No news for the remianing sessions. Anticpating some clean price action to end the week.. Where? Bears need to get past the daily support level at 1.06184 and I dont see that happening tbh bc no red folder data. I can see us ranging and being choppy on this friday so beware. We may increase back to 1.0605 1hr resistance zone for a bullish scenario

19 Nis

Not

1 Hour Chart : Our Bullish Scenario played out here on EurUsd

19 Nis

Not

Daily Chart : The News about 10 hours ago during asian session coincided with a rejection of the Daily support 1.06184. I mentioned in the analysis that I believed the Daily support would hold on a friday and it did , we are currently testing daily resistance at 1.06720. Either we go further towards 1.06896 ,previous daily high or retrace back to support level