1) Price did not break or close above the previous weeks high as demonstrated on my chart.
2) we may potentially break the weekly high, i'm not predicting we are here to react, but lets make an observations of this.
3) price is clearly consolidating, meaning the institutions are most likely hard at work, transacting orders and stacking their orders, remember after every conslidation we experience a impulsive move, this is a long consolidation meaning there is huge amount of orders being stacked, now are these sell orders or buy orders being stacked who knows ?, but we 'may' see price push upwards.
4) i would just watch EUR for now, so i can get a interpretation of whether we have stacked the orders and are ready for the next impulsive move, there will be a ton of liquidity within and out this consolidation i believe there is a strong impulsive move that is about to occur, watch attentively.
5) i have marked out a zone, not it is a weak 1 hr FOOTPRINT, but i will trade attentively and patiently.
summary:
EUR/USD, is currently consolidating orders are being stacked and there is a large move that is about to happen, if USD goes down, this goes up. and USD/CAD, has closed below the weeks low, this is a bearish signal, USD DOWN, EUR UP
2) we may potentially break the weekly high, i'm not predicting we are here to react, but lets make an observations of this.
3) price is clearly consolidating, meaning the institutions are most likely hard at work, transacting orders and stacking their orders, remember after every conslidation we experience a impulsive move, this is a long consolidation meaning there is huge amount of orders being stacked, now are these sell orders or buy orders being stacked who knows ?, but we 'may' see price push upwards.
4) i would just watch EUR for now, so i can get a interpretation of whether we have stacked the orders and are ready for the next impulsive move, there will be a ton of liquidity within and out this consolidation i believe there is a strong impulsive move that is about to occur, watch attentively.
5) i have marked out a zone, not it is a weak 1 hr FOOTPRINT, but i will trade attentively and patiently.
summary:
EUR/USD, is currently consolidating orders are being stacked and there is a large move that is about to happen, if USD goes down, this goes up. and USD/CAD, has closed below the weeks low, this is a bearish signal, USD DOWN, EUR UP
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