Hello Traders,
This is just my personal opinion about his pair and what i see and anticipate happening.
On the daily chart price broke the blue ascending trendline with an impulsive bearish move. price has since tapped into to a previous level of support
around .71600. the overall market is bearish but is showing a bit of sluggish bearish momentum, which based on the volume could indicate a potential pullback
4hr showing a potential oversold status and long wicks on the bottom of several early candles and we could be seeing a double bottom in the making, couple that with
the imbalance that needs to be filled above.
In my opinion we will see a pullback into .73400 area before a move back down, target .7000, a key demand zone.
I am looking for shorts but will enter a counter trend trade if the price breaks above double bottom neckline.
Trade WELL not OFTEN
This is just my personal opinion about his pair and what i see and anticipate happening.
On the daily chart price broke the blue ascending trendline with an impulsive bearish move. price has since tapped into to a previous level of support
around .71600. the overall market is bearish but is showing a bit of sluggish bearish momentum, which based on the volume could indicate a potential pullback
4hr showing a potential oversold status and long wicks on the bottom of several early candles and we could be seeing a double bottom in the making, couple that with
the imbalance that needs to be filled above.
In my opinion we will see a pullback into .73400 area before a move back down, target .7000, a key demand zone.
I am looking for shorts but will enter a counter trend trade if the price breaks above double bottom neckline.
Trade WELL not OFTEN
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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.
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.