The major has reached the first target pivot 1.2975-1.3008 having closed yesterday’s session below the round level 1.3000. Today’s trading so far goes inside yesterday’s range (“inside bar” formation) that could become a tangible sell signal should the day close this way.
But it’s too early to state that, therefore bulls keep a potential opportunity for extension of pressure in direction 1.3168 (black arrow).
Local market keeps an ideal uptrend structure. Given the fully completed corrective downswing and also a bullish inside bar at its tip we can expect one more upward momentum with aim of breaking the recent high (1.3005).
Growth in direction 1.3050 and 1.3100.
Longs to 1.3050 and 1.3100.