Oh, first I have to say that THIS IS NOT A SIGNAL by any means, all I'm sharing is my view on the market condition, some critical levels to watch and the direction where price might be heading.
AUD/USD
Based on the downwave A-B, price is currently near the level Sellers (0.9972), in fact it looks like it's already breached. It means sellers are losing strength, now they're under 75%. So there's good chance price is heading towards the Balance (1.0005).
Notice that LSMA is still pointing down but flattening and price is already above it. This means there's an effort to reverse direction.
So if price continues to play above the level Sellers and LSMA points up, then direction is confirmed and price (probably) will move towards the Balance.
On the other hand if price plays below the Sellers and LSMA points down, then it's possible that price will retest the low (0.9939).
EUR/JPY
Here buyers are currently dominating the market with more than 75% strength, and we can see price is trying to break and turn the LSMA up. So here we have the High (113.44) to focus on, assuming price is heading up off course. But if this level holds and price goes down, then our next focus will be the level Buyers (113.10).
EUR/USD
Yesterday the price was just playing or pivoting around the level Sellers (1.3504). It could means that sellers haven't decided if they will hold and continue the downmove or close their positions and give way to buyers.
It's kinda tricky situation really, but we can watch the LSMA for direction.
At this moment we can see that LSMA is pointing up and price too is moving up breaching the level Sellers. So, our current assumption is sellers are losing strength and the next destination might be the Balance (1.3585).
But if price moves down and LSMA points down, then we can assume that sellers will continue their hold on the market and our first focus will be the Low (1.3424).
GBP/USD
Here we can see buyers are still in control. The price is trying to break and turn the LSMA up. If they succeed, then the next logical target will be the High (1.6181). But if buyers decide to give up their position, then our first focus will be the level Buyers (1.6126).
USD/CHF
Here we can see that the price is at the Balance (0.9661). This is the level where buyers and sellers strength is equal, and there's 50-50 chance it can go either way.
In this situation we might want to refer to the bigger picture analysis (it's in my previous post on Saturday) and use the LSMA for direction.
Allright, that's all for today.
I hope you find this useful, happy trading and have a lot of green pips \m/\m/
DISCLAIMER: THIS ANALYSIS MAY CHANGE ANYTIME ACCORDING TO MARKET CONDITION, ALWAYS TRUST YOUR OWN ANALYSIS AND SYSTEM
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