Good morning, traders. I should say right away that today is not a simple day, so there will not be super interesting signals today, but this is fine, because we objectively assess the market and act reasonably within the system, instead of just making deals like on an assembly line, based on some mythical things like technical analysis or Elliot waves.
Nevertheless I will make a small review. By the way, I will add 6B (GBP/USD) soon, so there will be more signals.)
Yesterday I wrote, that there were no critical signs of reversal yet and indeed the price went down and updated another low, but then the first sign appeared.
The intraday key level at 1.1781 (red rectangle on the screenshot) was not retained and the price started to consolidate above it. But it is just the first signal, which is not enough to identify the reversal yet. Moreover, the price has broken through the level and is moving above it, but it has not yet repositioned.
In a word, now it is a difficult situation, which requires special attention and monitoring of the confirming factors.
Sell at 1.1825 and 1.1836 with the target at 1.1807.
The blue level is paid attention. If there is no buying there, the price will rotate above the level, hinting that it will not be held, you can carefully sell to 1.1765 and 1.1756. But this is not a signal, there are many factors to consider in the moment, so I will write if the selling is appropriate.