- Long wicks attached to Monday's candle indicate a lack of clear directional bias.
- A close above Monday's high is needed to revive the bullish view.
Such candles imply indecision or a situation where both bulls and the bears are unwilling or lack the strength to lead the price action.
Therefore, the immediate bias will remain neutral as long as the pair is trading within Monday's range of 1.18-1.1906.
A daily close above 1.1906 would mean the period of indecision has ended with a bullish breakout. That would open the doors for a rally to at least 1.2012 (target as per the measured move method).
Alternatively, acceptance under 1.18 would confirm a bearish reversal and shift risk in favor of a drop to 1.1602 (Nov. 4 low). The pair is currently trading largely unchanged on the day near 1.1845.
|Today last price||1.1844|
|Today Daily Change||0.0006|
|Today Daily Change %||0.05|
|Today daily open||1.1838|
|Previous Daily High||1.1906|
|Previous Daily Low||1.18|
|Previous Weekly High||1.1894|
|Previous Weekly Low||1.1814|
|Previous Monthly High||1.1881|
|Previous Monthly Low||1.164|
|Daily Fibonacci 38.2%||1.184|
|Daily Fibonacci 61.8%||1.1865|
|Daily Pivot Point S1||1.179|
|Daily Pivot Point S2||1.1742|
|Daily Pivot Point S3||1.1684|
|Daily Pivot Point R1||1.1896|
|Daily Pivot Point R2||1.1954|
|Daily Pivot Point R3||1.2002|
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