I marked on the chart GAP from daily chart and I think it will play important role in next few days as a major support/resistance area. It seems like that the pair is back on up trend after yesterday's sharp movement. Risk ratio is set close to 3:1 and it is based on Fibonacci 50% to 150%.
Green rectangle - this is very powerful formation with close to double bottom with great doji candle which is barely touching previous lows and shooting pair higher.
As long as the pair is above GAP it is in my opinion good area to enter.
See weekly chart for more detailed view
Green rectangle - this is very powerful formation with close to double bottom with great doji candle which is barely touching previous lows and shooting pair higher.
As long as the pair is above GAP it is in my opinion good area to enter.
See weekly chart for more detailed view
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.