EURUSD-06/29/2023
Preferred direction: BUY
Comment: Another false breakout was formed for the currency pair at the level of 1.09071. For now, this level keeps the price from falling to more significant supports. All while, someone has been gathering a position (which is evidenced by the formed balance of ~1.09071-1.09623). We should say shorts exceed purchases, that is exactly what is needed for a big buyer. However, it is possible that these sales will push the price lower.
Based on the above (in short), the following plan for buying is assumed: when the price closes above the level of 1.09623, the growth target lies at the level of 1.10677, and the stop is placed below the level of 1.09623 (based on ATR).
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Comment: Another false breakout was formed for the currency pair at the level of 1.09071. For now, this level keeps the price from falling to more significant supports. All while, someone has been gathering a position (which is evidenced by the formed balance of ~1.09071-1.09623). We should say shorts exceed purchases, that is exactly what is needed for a big buyer. However, it is possible that these sales will push the price lower.
Based on the above (in short), the following plan for buying is assumed: when the price closes above the level of 1.09623, the growth target lies at the level of 1.10677, and the stop is placed below the level of 1.09623 (based on ATR).
Thank you for like and share your views!
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