The Daily trend is unequivocally Bullish, defined by a powerful impulsive move followed by a necessary consolidation. The price is currently in a healthy pullback phase after reaching extreme highs, which has allowed momentum oscillators to cool down from overbought conditions, setting the stage for the next potential leg upwards.
The trigger for a high-probability long entry is now materializing on the lower timeframes. On the 1H chart, the RSI has found support near the crucial 50-level and is now attempting to cross back above it, signaling a potential resumption of bullish momentum. This price action is occurring as the price consolidates above key short-term EMAs, specifically holding the Daily EMA(7) around 2.14 as a dynamic support floor. This confluence of a strong higher-timeframe trend with a lower-timeframe momentum shift provides a clear entry point. We are capitalizing on the end of a corrective phase within a powerful uptrend, anticipating a retest and potential break of the recent highs.
Actionable Setup Now (LONG)
Entry: market at 2.2736
TP1: 2.7200
TP2: 3.0500
TP3: 3.4000
SL: 2.0450
##USNonFarmPayrollReport #BEAT
