EURUSD Pullback or Deeper Correction?
Hey guys how are you all doing?
This is an update to my previous post where I was biased to Long. Before we begin I would like to congratulate those who placed trades in my previous targets of 1.095 and 1.10665. Now for the D1 update using my algo let's begin.
Key Indicators:
1. Price Action: Price has been steadily going upwards and after hitting the .50 fib at 1.106xx we are now due for a pullback and this is reflected by the bearish Divergence at H4. There is no clear
2. Volume: Buying volume has been declining at H4 and D1 which reflects the pullback.
3. RVGI: D1 price action still firmly puts the indicator going upwards.
4. Stoch RSI: At H4, indicator is a the top of the range, slowly moving downwards. At D1, the indicator is still just above the bottom range showing bullish momentum is still intact after this pullback.
5. Invalidation of the bullish rally: If pullback goes below 1.079
BIAS: Short Term H4 Pullback to 1.09xx
Mid term: LONG to 1.12xx
If you guys like my analysis, please LIKE and SUBSCRIBE.
Safe Trades Everyone :)
This is an update to my previous post where I was biased to Long. Before we begin I would like to congratulate those who placed trades in my previous targets of 1.095 and 1.10665. Now for the D1 update using my algo let's begin.
Key Indicators:
1. Price Action: Price has been steadily going upwards and after hitting the .50 fib at 1.106xx we are now due for a pullback and this is reflected by the bearish Divergence at H4. There is no clear
2. Volume: Buying volume has been declining at H4 and D1 which reflects the pullback.
3. RVGI: D1 price action still firmly puts the indicator going upwards.
4. Stoch RSI: At H4, indicator is a the top of the range, slowly moving downwards. At D1, the indicator is still just above the bottom range showing bullish momentum is still intact after this pullback.
5. Invalidation of the bullish rally: If pullback goes below 1.079
BIAS: Short Term H4 Pullback to 1.09xx
Mid term: LONG to 1.12xx
If you guys like my analysis, please LIKE and SUBSCRIBE.
Safe Trades Everyone :)
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