Forex EUR/USD Daily Video, February 22, 2024

[Sive Morten]

Good morning,

Short-term context on EUR remains bullish and everything goes with our scenario. Now we're watching the 1.0875 level as an upside target as an area where we could see background for short entry on daily chart:

 

[davedubai]

Thanks Sive. Did return journey in EURUSD from 1.0810 to 1.0885. Lucky to hit both entry and exit on short from 1.0885 and long from 1.0810
Thanks.
Last 8 daily sessions the pair is closing on daily basis at Higher High. The last such action was for six trading days in 2023. From 6th July to 17th July and then eminent fall. Then was very impressive bullish candles against currently sluggish action.
Price now is fielding between 50DSMA and 200 DSMA.
Await your inputs as always.
Thanks

 

[Sive Morten]

Last 8 daily sessions the pair is closing on daily basis at Higher High. The last such action was for six trading days in 2023. From 6th July to 17th July and then eminent fall. Then was very impressive bullish candles against currently sluggish action.

Hi Dave, this is interesting observation, in a style of DeMark sequence indicator. It is a bit more complicated, but use the same principle - amount of candles in particular direction and controlling of the close prices. Market is rather harmonic thing, we also very often watch for harmonic swings that works in general...