The horizontal lines are important price zones, the black one is the pennant height
I think, considering the bearish momentum the last days, despite the daily RSI, we might see it go a little further below.
If it breaks it might find some resistance at the black circle, or might even bounce back, use risk management for this one, if it breaks that support, we might see it go further down to the first TP, watch out on 0.898, theres a zone around there but not as strong I think, so it might bounce back and use the resistance, just an idea.
On the other hand, if it breaks the support on the TP indication, we should se the price go for the next support, but I think that if it does that it might stall a few days on the support, so think of it as a longer swing that the first one
I think, considering the bearish momentum the last days, despite the daily RSI, we might see it go a little further below.
If it breaks it might find some resistance at the black circle, or might even bounce back, use risk management for this one, if it breaks that support, we might see it go further down to the first TP, watch out on 0.898, theres a zone around there but not as strong I think, so it might bounce back and use the resistance, just an idea.
On the other hand, if it breaks the support on the TP indication, we should se the price go for the next support, but I think that if it does that it might stall a few days on the support, so think of it as a longer swing that the first one
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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.