UADUSD rose over 6% since the end of May. Can it go higher? Analysis on the 2H chart suggests
that it cannot. It is presently deep in the resistance/demand zone as delineated by the
luxalgo indicator. A long mult-session volume profile shows the high volume area fairly s
symmetrical about a POC line which roughly corresponds to a 50% Fibonacci retracement of
the uptrend which occurred from May 31st to June 16th. On the MACD the lines have crossed
and are trending down. I can easily conclude that the pair is likely to retrace. I will take a
short selling forex trade.
that it cannot. It is presently deep in the resistance/demand zone as delineated by the
luxalgo indicator. A long mult-session volume profile shows the high volume area fairly s
symmetrical about a POC line which roughly corresponds to a 50% Fibonacci retracement of
the uptrend which occurred from May 31st to June 16th. On the MACD the lines have crossed
and are trending down. I can easily conclude that the pair is likely to retrace. I will take a
short selling forex trade.