Volumetric analysis on August 10



Single currency broke through support at 1.1540. After the breakdown, there were quite strong bursts of volume. Reaction to that volumes will determine further scenarios. If displayed volume leads to a drop, then we can expect H1-H4 time format impulse. In such case it would be reasonable to prioritise short trades on all TF from M5 to H4. On the other hand, upwards reaction to the placed volumes will indicate the relevance of level 1.1540 in the status of support. Upwards target is seen at 1.1785 with the priority to open long trades.


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