FxGitman

FxGitman

The pair is at a strong support and it is highly likely to go up from here.

07:00

FxGitman

As the video illustrates, structure was broken to the upside to indicate that the pair has potential to go higher after it retraces and retests the support. There are many confirmations that backs this bias. This include a strong demand zone where price rose significantly and this area is also at the 0.50 fib retracement point, keep an eye!

FxGitman

the falling channel has been broken. I am waiting for a retest of the upper trend line which also coincides with the 0.236 fib level. I may open a long position immediately this happens and place my stop 20 pips below my entry or wait for a confirmation of my bullish bias before going long. my target is the 1.30 supply zone.

FxGitman

price was moving down in that channel until it broke out with a very strong bullish candle. I have marked the demand zone where price broke out of the channel and the zone is between the 50 and 61.8 fib level. This gives me confidence that price will go up after retesting the zone.