Potential long
This pair continues to make new higher highs in the upward channel.
Its recent fall may now provide an opportunity to go long, however, I will only do so if there is more confirmation from the candlesticks. I expect the price to reverse in the blue zone/ beneath the 38.2% retracement and the previous resistance level which should become support.
Based on this I will be targeting the 38.2% extension level/ the previous high, although I do expect the price to exceed this,
Its recent fall may now provide an opportunity to go long, however, I will only do so if there is more confirmation from the candlesticks. I expect the price to reverse in the blue zone/ beneath the 38.2% retracement and the previous resistance level which should become support.
Based on this I will be targeting the 38.2% extension level/ the previous high, although I do expect the price to exceed this,
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