Price is showing a Daily rejection wick at the 38.2 Fib level, we also have a weekly rejection candle which lines up with weekly key level 1.25000.
If the market is ready for overall buys, I will look for a break of structure on H1-M15 before placing buys to initial target 1.30000.
I will then expect price to pullback into Resistance to retest Descending trendline (From December 13, 2019) before attempting to test weekly key level 1.35000
If the market is ready for overall buys, I will look for a break of structure on H1-M15 before placing buys to initial target 1.30000.
I will then expect price to pullback into Resistance to retest Descending trendline (From December 13, 2019) before attempting to test weekly key level 1.35000
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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.