In the previous analysis (8th Jan), I discussed about the short-term selling opportunities after a re-test of 1.7780 resistance zone for further bearish continuation as AU was forming an exhaustion pattern (flag), which was exactly what the market performed. Currently 0.7740 support zone is being held for several times which is very similar to GU. In the short-term, as long as 0.7740 support holds, we will remain bullish bias. Currently there are 3 setups that I am looking for
1. A direct violation of 0.7778 resistance zone during the Asia session tomorrow, entry trigger would be a simple break & re-test setup with 0.7820 daily highs as the initial target (Bullish).
2. A pullback towards 0.7740 support zone for the fourth rejection before buyers again step in (Bullish).
3. A breach of 0.7740 support zone with a break & re-test setup, with 0.7690 & 0.7640 as targets (Bearish).
Will keep it updated tomorrow during the Asia session. Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. A direct violation of 0.7778 resistance zone during the Asia session tomorrow, entry trigger would be a simple break & re-test setup with 0.7820 daily highs as the initial target (Bullish).
2. A pullback towards 0.7740 support zone for the fourth rejection before buyers again step in (Bullish).
3. A breach of 0.7740 support zone with a break & re-test setup, with 0.7690 & 0.7640 as targets (Bearish).
Will keep it updated tomorrow during the Asia session. Trade safe.
Do follow my profile for daily fx forecast & educational content.
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