???URO update (Thanksgiving) – $EURUSD $6E_F #forex #fx $$

Price was around the area noted below back on Tuesday´s post


Price reached the upward areas marked back on Tuesday. Lack of agreement regarding Greece prompted the pair back into 1.2770-1.2724, as was possibly expected, in which responsive buyers acted towards news highs at 1.2899 which (not coincidentally) is quite close to the POC at 1.2903.


Nevertheless the move towards the downside was not expected, the action of buyers into a previous demand zone proved to be positive for the pair to reach new highs this week.


The next review will likely be next Sunday. However, some views for the following days
As previously stated last Sunday, I have switched towards full long view once 1.2790 has been broken to the upside.

Alternatively  -following last week´s move- I am switching my stance towards “neutral”/long. The reason for not adopting a full upward trend is that 1.2800´s have not been fully breached and last week for sellers to mantain pressure.

A few clues that I´ve been watching towards more upside is the appearance of symmetrical profiles/subprofiles over the last few days.

Back on Sunday, Nov. 18,  I specifically cited them as a reason to look for more upside momentum.
I tend to pay special attention towards the development of symmetrical profiles,  as either accumulation or distribution, depending on the context and location.  In this case, when near the bottom-end of price, it is usually a strong clue of further upside that should not be passed. Specially if followed by a vertical development in terms of price action, as it happened. 
In that sense, similar price action has developed.
My new line in the sand to keep upward bias is 1.2800-1.2830, which I would expect to be challenged at some point. Below the same 1.2778-1.2725 area which buyer´s defended this week. If the latter gets breached and no important buying action takes the stand, I would expect the pair to make new lows.
Alternatively -scenario in which I´m leaning into- the next key area I am expecting 1.2947-1.2930 in which 1.2938 constitutes a key POC, followed by the 1.2960 area. Above 1.3010-1.2992, followed 1.3038-1.3020.


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