EURUSD- price didn't reach my supply zone before kicking in the sells, but rather reacted at the 1.1613 internal resistance price level for the sell continuations.
EURUSD- price formed a low slightly below the previous day's Low at the 1.1566 price level as support. This level spike strong buys during New York session today, rallying price up to 1.1610 price level before retreating.
With a breakout from the trend resistance, this signifies EURUSD is ready to continue it's rally to the upside, targeting external liquidity at the 1.1720 price level.
But price will react at the supply zone that aligns with resistance level at the 1.1646. presenting sell opportunity with SL at 1.1660 and TP at 1.16100.
EURUSD- price did a very clean break and retest of the 4hr Trendline channel at the 1.1613 key price level before continuing the rally to the supply zone at 1.1646.
EURUSD- I'll be expecting brief sells from the supply zone at 1.1646 price level for an external retest of the bearish trendline it broke out from today.
With a new month starting this week, GBPUSD has formed a broadening ascending channel, which implies the tendencies of bullish activities to expand this month and possibly reaching 1.3803 key resistance level.
GBPUSD- On 4hrs, price has invalidated the 4hr bearish descending channel and has rallied towards the internal resistance level at 1.3358. I'll be expecting bearish reactions from this level tomorrow to drive price for a retest of the trendline at 1.3520.
GBPUSD- Trade Setup Bias: Bullish Technical Outlook: Inverse Head and Shoulder
Idea/Approach: Price invalidated the bearish trendline today and is closing with an engulf on the daily today. I'll be waiting for a retest of the trendline it invalidated which confluences with a demand zone and a weekly level where I'll be setting my limit order.
