This pair is showing BULLISH trending patterns, however we may be in for a retracement to create a new LH before moving higher
After trading the breakdown of the recent Double Top formation (4H) from recent highs @1.29000, this pair finds itself at a Major Level of support (1.28000) which if broken, could see the pair return to 1.25850. Here the price will be entering the GOLDEN RATIO ZONE where if BULLISH P.A is observed we may be able to enter LONG and catch the C-D LEG to new highs
More aggresive traders can trade the down move into this area but I would wait for clearer indication we are infact ready for the retracement
After trading the breakdown of the recent Double Top formation (4H) from recent highs @1.29000, this pair finds itself at a Major Level of support (1.28000) which if broken, could see the pair return to 1.25850. Here the price will be entering the GOLDEN RATIO ZONE where if BULLISH P.A is observed we may be able to enter LONG and catch the C-D LEG to new highs
More aggresive traders can trade the down move into this area but I would wait for clearer indication we are infact ready for the retracement
Note
Slowly working our way to ENTRYNote
Support found @ 1.27000Note
Can we finally break out of the TL????
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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.