Analyzing Forex European session on 06/07 - Some models and price zones to note
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ANALYSIS #EURUSD 1 HOUR CHART
Advance markets: Buy #EURUSD. The results hit the bottom
Current trend: #EURUSD up.
Odds today: Buy #EURUSD
Note: #EURUSD has started the week very impressively. A continuous series of H1 bullish candlesticks has been created since the start of the Asian session, pushing #EURUSD up to about 50 pips. The morning rally also broke the cumulative sideway and that could be considered a technical reason for the fast fluctuation of #EURUSD. At the current price zone, we have several resistances for #EURUSD, including (1) the old peak resistance zone, (2) the circular number area of 1.3000, (3) #EURUSD above the upper border of the #Keltner Channel, is a sign of overbought. Maybe #EURUSD has a slight downturn. We will wait for #EURUSD to come down and calculate the next purchase.
#GBPUSD ANALYSIS 1 HOUR CHART
Advance markets: Buy #GBPUSD. The results hit the bottom
Current trend: #GBPUSD is inclined to increase
Odds today: Buy #GBPUSD
Note: #GBPUSD hits support and bounces on weekends as we expect. Currently, #GBPUSD #Cable is heading up the price action Inside Bar model, which may signal a possible price increase. This structure allows us to be more inclined to the possibility of price increases for #GBPUSD.
ANALYSIS #USDCHF CHART 1 HOUR
Advance markets: Sell #USDCHF. Peak hit results
Current trend: #USDCHF is down
Odds today: Sell #USDCHF
Note: #USDCHF last week formed a reversal pattern from bearish to bullish. Inverted Head and Shoulders Pattern. However, we have stated that the U.S. holiday makes the motivation to break the model for #USDCHF rebound is low, and the probability of failure - false break - is high, and the results are correct as their analysis. ta. The Reverse Head and shoulders pattern has become a broken pattern - Bursted Pattern - and reversed in the downward direction. The #USDCHF is currently retesting the old bottom, indicating that the possibility of price decline remains, but this is not an advantageous trading area. We'd better wait for the #USDCHF recovery to sell down.
** Summary of the market according to previous analysis: 3/3 hit the bottom of the bottom
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