Previous week analysis talked about price having a hard time to break below $1.07825 after moving down to the demand zone.
After reaching the lower level of the demand zone price reversed and moved upwards touching the supply zone around $1.08846.
On Friday price followed bearish Pin bar signal and closed the day below previous daily candles.
The next target is 100 pips away, support level $1.06736.
$1.06736 is a slightly weaker support than $1.07825 was, so we can expect if the price continues to move strongly down to break this support more easily than it was this week.
After reaching the lower level of the demand zone price reversed and moved upwards touching the supply zone around $1.08846.
On Friday price followed bearish Pin bar signal and closed the day below previous daily candles.
The next target is 100 pips away, support level $1.06736.
$1.06736 is a slightly weaker support than $1.07825 was, so we can expect if the price continues to move strongly down to break this support more easily than it was this week.
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.