Price rejected the downtrend line on April 24th to continue its bearish movement. If you haven't caught this setup, no need to worry as there is always the opportunity to re-enter & catch those pips!
RSI is currently indicating oversold on the 4HR timeframe which should cause a pullback to a recent swap level (support turn to resistance) around 1.6780 by next week & bounce back down towards the major resistance zone around 1.6300 by the end of the week.
Potential Trade :
Sell Limit @ 1.6780
SL : 1.6815
TP 1 : 1.6730
TP 2 : 1.6670
RSI is currently indicating oversold on the 4HR timeframe which should cause a pullback to a recent swap level (support turn to resistance) around 1.6780 by next week & bounce back down towards the major resistance zone around 1.6300 by the end of the week.
Potential Trade :
Sell Limit @ 1.6780
SL : 1.6815
TP 1 : 1.6730
TP 2 : 1.6670
Trade closed manually
SL Hit at -30 pips.
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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.