Rationale behind my projections for EUR/USD pair:
1. The supply at 1.22433 coincides with the Q1 78.6% Fibbo retracement level.
2. Price is moving beyond the Bollinger Bands + CCI indicator thriving in the over-bought zone.
3. Potential correction following Friday's rally may happen.
4. D1 Time Frame opts for a potential divergency - MACD.
Prediction:
The price will face some resistance at 1.22000 and 1.22433 heading down in the following week.
1. The supply at 1.22433 coincides with the Q1 78.6% Fibbo retracement level.
2. Price is moving beyond the Bollinger Bands + CCI indicator thriving in the over-bought zone.
3. Potential correction following Friday's rally may happen.
4. D1 Time Frame opts for a potential divergency - MACD.
Prediction:
The price will face some resistance at 1.22000 and 1.22433 heading down in the following week.