Good morning and have a great trading week, traders. As you remember, on Friday I traditionally did not give any signals for the day, but I said that the price was likely to fall further and suggested to sell from 1.22, if the sales at the level occurred. As a result we got to 1.22 and the market went down rapidly and nicely. I did not give any signals, but the scenario worked perfectly.

The market went down and had some strong volume, so the price went back up and updated the daily high, restoring the positions. The day closed neutral, above the maximum volume of the day.

To identify these events as a manifestation of buyer power, you need to wait for confirmation. But till there is no confirmation, I am inclined to the fact that the market will slide down to 1.2144.

We will watch the result of the POC of Friday (1.2181). If there is no buying activity at this level, you can look for selling on the pullbacks from this level with the targets 1.2160 and 1.2144.

There is a suspicion that there will be no serious movements today. Rather, the entry points will be given, there will be some confirmations for the scenarios, and the implementation will be tomorrow. I assume that today the price may rotate in the range of 1.2175–1.2215, but trading from the borders of this range is possible only with the confirming signals in the moment, so I will not give any specific recommendations now. When the situation becomes clearer, I will write another post today, if I have time.