Market has broke and closed below short term support 2.0422.
I can see a sell signal.
The RR ratio is 1:1 if we look for first target i.e: 2.0304
If the market closes below the first target successfully then next target may also be achieved.
The R:R is not impressive but the market move seems strong that is why I have posted my analysis.
Simple chart without...
Strong Support ahead @ 1.5100 If price closes below it's a sell. Targets and SL given in chart.
If bounces back it's a buy But wait for confirmation, After testing yellow live market should break the purple channel and close above it. Buy trade seems a bit risky.
1.5115 is the strong support line it may set a new short term trend. if you want to trade this idea...
Naked chart shared.
I am looking to a sell Below 76.25, If the price breaks and (1h or 2h candle)closes below. Take profit and Stop-loss levels are also shared. Stop-loss is placed Safer point with the R:R 1.5 which is not Perfect but OK.
Pure technical analysis. No indicators at all.
GoodLuck.
NOTE: This is my own idea based on technical analysis. Always do...
