Sive Morten
Special Consultant to the FPA
- Messages
- 18,659
Morning folks,
So, due to Houthis attack in Red Sea, it was a bit more volatility yesterday, as dollar has jumped in a moment. But it was short term reaction. On daily chart we do not see that it somehow has hurt overall bullish context. So here we still expect that EUR should try to challenge the K-resistance levels. Other risk factors are in place - today's Powell speech, ECB tomorrow and NFP on Friday... but for now daily picture looks the same:
On 4H chart our setup has worked nice, later price has returned back due Red Sea incident, forming '222" Buy pattern and now it is trying to get back lost positions. So, our H&S is still valid and we're watching for upside breakout. Besides, on DXY we again have grabbers today.
On 1H chart, we do not see something special, market is consolidating near the top of long sideways area, which is also probably could be treated as a bullish sign. It is possible to watch for some patterns, say, it might be upside butterfly as a starting point of upside action. Obviously 1.0840 level remains as local vital area.
So, due to Houthis attack in Red Sea, it was a bit more volatility yesterday, as dollar has jumped in a moment. But it was short term reaction. On daily chart we do not see that it somehow has hurt overall bullish context. So here we still expect that EUR should try to challenge the K-resistance levels. Other risk factors are in place - today's Powell speech, ECB tomorrow and NFP on Friday... but for now daily picture looks the same:
On 4H chart our setup has worked nice, later price has returned back due Red Sea incident, forming '222" Buy pattern and now it is trying to get back lost positions. So, our H&S is still valid and we're watching for upside breakout. Besides, on DXY we again have grabbers today.
On 1H chart, we do not see something special, market is consolidating near the top of long sideways area, which is also probably could be treated as a bullish sign. It is possible to watch for some patterns, say, it might be upside butterfly as a starting point of upside action. Obviously 1.0840 level remains as local vital area.