Price is in a strong downtrend but is within our support zone.
Trade Scenario 1: Bearish - For us to go short and continue the trend we want to see price break below our structure zone of 1.2670 with conviction. We will then wait for a retest and for 1.2670 to flip as resistance. Enter on strong bearish setups
Trade Scenario 2: Bullish - For us to go long we need to see price break out of our downward trend and above 1.2690. We will then wait for a retrace and a clear HL to form at or above 1.2690.
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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.