Fundamental Backdrop
1. US Unemployment Claims were better than previous from 192k to 190k.
2. Unemployment dropped which showed that the the labor-market is improving .
3. Overall economic health is improving.
Technical Confluences
1. Price bounced off the key H4 support level at 104.500.
2. Near term resistance at 105.100
3. Key Daily resistance at 105.600
Idea
Expecting price to break above the near term resistance at 105.100, before possibly heading towards the key daily resistance at 105.600 area.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. US Unemployment Claims were better than previous from 192k to 190k.
2. Unemployment dropped which showed that the the labor-market is improving .
3. Overall economic health is improving.
Technical Confluences
1. Price bounced off the key H4 support level at 104.500.
2. Near term resistance at 105.100
3. Key Daily resistance at 105.600
Idea
Expecting price to break above the near term resistance at 105.100, before possibly heading towards the key daily resistance at 105.600 area.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.