Analysis on chart!
I don't normally post Daily charts but thought I would this time around as its clearer to see what my thoughts on this pair are...
I wanted to break the pair down and predict where I think the pair is heading! We had a false breakout to the upside which I've highlighted on the chart! We had a break above close above which could signal bulls are now in charge and we are going to move higher! The pair then put in 4 consecutive bearish days so I wanted to see where we may get any relief or even a reversal zone to look long!
I've highlighted where I think the next potential zone may be where we have, Dynamic Support, Structure support, 0.76 Fib Retracement, 1.618 Fib Extension and Harmonic Leg completion!
The RSI Still has room to move to the downside so I believe the above idea is possible! The potential targets I have placed on this chart are solely based on if price were to reach the middle of the highlighted zone! Stops and Targets will vary across all traders depending on the plan they trade from but it may offer a nice Risk Reward profile!
As always your support means a lot and hope you continue to hit the like button, give constructive feed back and share away!
SMART TRADING
I don't normally post Daily charts but thought I would this time around as its clearer to see what my thoughts on this pair are...
I wanted to break the pair down and predict where I think the pair is heading! We had a false breakout to the upside which I've highlighted on the chart! We had a break above close above which could signal bulls are now in charge and we are going to move higher! The pair then put in 4 consecutive bearish days so I wanted to see where we may get any relief or even a reversal zone to look long!
I've highlighted where I think the next potential zone may be where we have, Dynamic Support, Structure support, 0.76 Fib Retracement, 1.618 Fib Extension and Harmonic Leg completion!
The RSI Still has room to move to the downside so I believe the above idea is possible! The potential targets I have placed on this chart are solely based on if price were to reach the middle of the highlighted zone! Stops and Targets will vary across all traders depending on the plan they trade from but it may offer a nice Risk Reward profile!
As always your support means a lot and hope you continue to hit the like button, give constructive feed back and share away!
SMART TRADING
