It’s a little late to be connected today, but that’s okay, let’s try to fit in. Yesterday I wrote that we were at the upper boundary of the local balance (blue rectangle on the screenshot) and that the price would rotate on that boundary the whole day.

That is exactly what happened, there was a rotation, which formed an intraday small balance, from the lower boundary of which I suggested to buy (1.2130) in yesterday’s post. The price reached the buy level only by the night and by the time I was writing this post it reached the target (1.2165).

What to do next? Serious selling at the upper border of the local balance is absent, the nearest support levels are also held, which speaks in favor of the strength of the buyers. However there is no serious volume on the support and for transition from the phase of balance into impulse upwards forces are not enough. Therefore most likely the intraday balance (orange rectangle on the screenshot) will continue, maybe widen a little bit.

Since we managed to buy from the orange balance’s lower boundary last night by yesterday’s signal, today we will short from its upper boundary, or rather from its expansion zone. Also, if the level of maximum volumes of the previous day (yellow level) is held, while the level of overnight volumes (black level) is not held, the price may descend to 1.2103, but I doubt it will happen today.

SELL from 1.2193 with the target at 1.2165.

Perhaps, this is the only clear signal, as other potential deals should be done very carefully, estimating the situation in the moment.