Hi guys, notice that 800 pips spike on EU weekly chart?? The pair closed 200 pips below 50% level and just below 30 EMA. I don't think it will open above the resistance also. I add Fibonacci retracement of 1.2328 to 1.4718 (yellow Fibo) where we can see that it almost reached 38.2% retracement. I expect it to reach 50% retracement (yellow) first by next week.
GJ find its support at the last trading day this week. I drew a channel on H4 (green lines) and H1 (red lines). On 1 hour chart, it seems that it broke the trendline, but we'll if the pair open above it tomorrow. On 4 hour chart, the support line from two previous lows has been respected and give an opportunity to trade with better risk/reward ratio (targeting upper channel & SL below lower channel). Below are the charts.
Thats all for Head Start session. See you next week :)
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