In the previous analysis, I discussed about potential failure and rotation at 1.2150 minor resistance zone, which was exactly what the market performed. In today's trading session, I will remain neutral bias as the short-term bearish sentiment is relatively strong. There's many minor S&R zones that we must respect as well. There are two setups that I am looking at
1. Be aware that short-term traders (1m - 15m charts) will be placing their SL just beneath the 1.2080 level. I am now anticipating a higher low sequence, Ideally I want to see price breaks below 1.2080 level taking out majority of the traders, testing the 1.2060 support zone for further bullish continuation (Bullish)
2. If we notice price goes below 1.2060 support zone, that would indicate short-term bearish sentiment in the market, invalidate the long setup (Bearish)
Do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. Be aware that short-term traders (1m - 15m charts) will be placing their SL just beneath the 1.2080 level. I am now anticipating a higher low sequence, Ideally I want to see price breaks below 1.2080 level taking out majority of the traders, testing the 1.2060 support zone for further bullish continuation (Bullish)
2. If we notice price goes below 1.2060 support zone, that would indicate short-term bearish sentiment in the market, invalidate the long setup (Bearish)
Do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
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Previous analysis
