Price is very close to our current demand zone.
Trade Scenario 1: Bullish - For us to go long we want to see price form support at our demand zone around 126.050. We will wait for a strong bullish engulfing/variation to enter long.
Trade Scenario 2: Bearish - For us to go short we need to see price push to the downside with conviction. We will then wait for a retrace and for our current demand zone of 126.050 to flip as resistance.
Trade Scenario 1: Bullish - For us to go long we want to see price form support at our demand zone around 126.050. We will wait for a strong bullish engulfing/variation to enter long.
Trade Scenario 2: Bearish - For us to go short we need to see price push to the downside with conviction. We will then wait for a retrace and for our current demand zone of 126.050 to flip as resistance.