Price hit demand zone and bounced, a healthy pullback the demand zone is likely.
Price is also in a bullflag pattern with lots of supply areas in its way, It will be a slow move up towards the higher supply zone.
After yesterdays impulse move to the upside Price action should be corrective in nature.
Disclaimer
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Price is also in a bullflag pattern with lots of supply areas in its way, It will be a slow move up towards the higher supply zone.
After yesterdays impulse move to the upside Price action should be corrective in nature.
Disclaimer
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
