If we look at the 4H timeframe, we can see that this ccy pair has reached the daily support level;
In addition, we can also see it being caught in a descending triangle on the 4H timeframe.
I will go long if price on the 1H timeframe closes above 0.89598 (which was the previous high contested on the 10 Jul - similar situation as what we are facing now),
will then buy on retest.
Currently this ccy pair is in consolidation so will wait first
In addition, we can also see it being caught in a descending triangle on the 4H timeframe.
I will go long if price on the 1H timeframe closes above 0.89598 (which was the previous high contested on the 10 Jul - similar situation as what we are facing now),
will then buy on retest.
Currently this ccy pair is in consolidation so will wait first
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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.