27-5-2020 - H4 EU - Bullish Continuation
Following Tuesday Session, Price has breakout of the range it was consolidating after it bounce on the 4H 62 Fib level. Price then surge strongly to the upside hitting the range top where it was rejected back to the downside. As of now it has retraced towards the Institutional Level 1.095 and could potentially go lower to retest the EMA 14.
My overall bias is still Bullish on this pair as the Daily Bullish Tideshift is still in play according to yesterday Bullish engulfing candle close.
However, I believe there is more room for retracement to the downside towards Insitutional Level 1.0920.
As of now, I'll just wait for the NY session to see if price can shows clearer indication of whether it is going to continue to bullish momentum or is it going to reverse completely to the downside.
Bias = Bullish
Structure = Waiting for HL formation, else Ranging
Setup = No
My overall bias is still Bullish on this pair as the Daily Bullish Tideshift is still in play according to yesterday Bullish engulfing candle close.
However, I believe there is more room for retracement to the downside towards Insitutional Level 1.0920.
As of now, I'll just wait for the NY session to see if price can shows clearer indication of whether it is going to continue to bullish momentum or is it going to reverse completely to the downside.
Bias = Bullish
Structure = Waiting for HL formation, else Ranging
Setup = No
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