Expect possible push towards Weekly Trend Line to start the week... Looking for an entry point around 130.750 region, however will have to assess early market movements to confirm entry.
Currently Stoch Oscillator on both the monthly and 4H chart are indicating overbought with the daily also creeping into overbought territory (81.36).
On the 4H the overbought indication shown on the Stoch Oscillator is also backed further by the RSI which is currently at 75.37 which indicates a pull back could be on the cards. Look for TP 127.650 to be hit before going for a Long position.
TP 1 will be at 128.6 (Due to it being a support area within August)
TP 2 will be 127.65
Any feedback will be welcomed as still learning.
Currently Stoch Oscillator on both the monthly and 4H chart are indicating overbought with the daily also creeping into overbought territory (81.36).
On the 4H the overbought indication shown on the Stoch Oscillator is also backed further by the RSI which is currently at 75.37 which indicates a pull back could be on the cards. Look for TP 127.650 to be hit before going for a Long position.
TP 1 will be at 128.6 (Due to it being a support area within August)
TP 2 will be 127.65
Any feedback will be welcomed as still learning.