Volumetric analysis on February 01
Yesterday's high-risk idea did not materialize. We saw a weakening of the single European currency during the American trading session. Is it a possible trend reversal? We won’t guess, just pay attention that the volume gained in the price range of 1.1432-1.1390. Therefore, the likelihood that here is an open interest of buyers. This means that you can try to implement yesterday's trading idea. This is a search for entry points and a purchase from the balance of 1.1432-1,1390. However, due to upcoming news events, the goal should be adjusted to 1.1485 and not expect to update the highs. At least this week.
During yesterday's trading session in the price range of 1319-1326 a serious volume was traded. In the updated futures contract, it is commensurate with the fact that it has been traded in the boundaries of 1312-1306. Thus, there is reason to believe that a trend reversal can take a place. And those goals that we laid yesterday may be postponed for a long period. However, it is too early to assume that this is exactly a reversal. We will talk about sales if the price falls below 1306. And certainly not this week. In the meantime, from the balance of 1312-1306 we can consider purchases with a target of 1319. Also, up to the resistance, and not suggesting a maximum update.
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