EURO Futures (6E, June)
After CPI yesterday, the market has rallied hard throughout the afternoon and bulls appear to be back in charge. We still have a weak high untested from February which poses the risk of another bullish move in the short term.
Clean cut price action this morning resting on yesterdays VAH. If we cannot hold this level the risk of a move lower increases significantly. This doesn't mean to say we could sweep the Asian lows upon London open but ultimately we need to remain above the VAH which aligns with the AM naked POC (a strong support level)
If we take a look at fig.3, we can see a potential setup however ideally we will see confirmation on the footprint to confirm bulls holding this zone.
Daily profile: (fig.1)
AM Session profile (fig.2)
EURUSD candlestick chart (Asian range) (fig.3)
GBP Futures (6B, June)
Similarly, I am waiting for a dip upon London open into the naked POC on the am profile (fig.4). We can clean cut support that needs to hold in order to take long positions.
Line in the sand for longs: 1.2442 (trading view)
VWAP angle: 39 (bullish)
GBP AM session profile
Daily Profile (fig.5)
GBPUSD candlestick chart (fig.6)
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