08 August Thursday View

Technically, in daily chart if price gains and closes higher today, we will have an evening star formation out of yesterday's candle right at 23.6 % fib retracement level, which is a reversal signal. If the price closes higher today that of Tuesday's open, it will be back above the USD 1300 psychological level as well in addition.

Price yesterday found support at 30700 (USD 1273.24), only break and hold of 30500 level (USD 1264.95) would have suggested further lower prices. 31325 (USD 1301) would be the first resistance it will have to deal with today if to move further up ahead before 31550 (USD1308.49) and 31875 (1321.97).

Price is kind of swing dancing around 150 SMA in H4, and I personally find it very interesting, all these moves are puzzles of a bigger picture, and it is so fascinating to get it solved and try to see it.

Trade Happy, Trade Safe :)