We expect further downside on this pair, signalled by the formation head and shoulders pattern breakout. We can also see the breakout of a short-term trendline supports our directional basis.
Note
Trade has reached the 50% of the move. We expect a pull back before the continuation to the downside.Note
Trade is approaching 80% of the move. The USA market open is approaching so anything can still happen hence its important to stick to your risk management rules.Trade closed: target reached
We are done for the week. Happy weekend to all.
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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.