The pair has posted an engulfing bearish candle yesterday respecting perfectly the 50MA and confirming the downtrend. It is at the moment sitting at support but if this is broken I can see a strong case for the pair to go all the way down 0.6775 area where I would expect a double bottom as this has been an area many times respected in the past (2015 and 2016).
This view is supported by MACD making a tick lower.
A pull back in the 4H chart and break of the lows will be needed for me to enter the trade.
Trade safe!
This view is supported by MACD making a tick lower.
A pull back in the 4H chart and break of the lows will be needed for me to enter the trade.
Trade safe!
Note
Retrace completed to the 50 fib retracement. Looking to enter under the neckline (red line)Trade closed manually
Closed. Very bullish at the moment
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.
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.