1270!!!! From my point of view it was target for bulls. Time for bears start now...
1. TL broken 2. Price started to create channel upside 3. Expect to buy after the retest of blue box.
Just how i see it: 1. Break below chanell and small double bottom - give possibility for all to sell this pattern like from book. 2. Just after everybody sold - we will visit their stop losses, what will give enough liquidity to sell as planned. 3. When target will be reached, traders will add their long positions and will be strong up move.
watch for 0,786 fib, if hold than...
Break, correction, retest - buy opportunity after close above 50 EMA.
I will be looking for sell until price will be below red line and above 50 ema on 1h chart.
1. TL broken, tested. 2. RSI confirm break and pull back. 3. Div. show bullish sign. 4. 0.686 act here as major resistance. 5. Price above blue monthly TL. Expected break 50EMA, taking highs 0.705, pull back to 50ema where i will be looking long up to 0.7272.
What is your pill red or blue? :D
2 patterns what give us bullish view in this pair
expect to see something like this in next weeks.Only idea, not for trading.