Last week this pair saw a break of the bull trend line. It retested the trend line 3 times and failed on the fourth where the yellow highlighted zone is. This to me shows even more slowing bullish momentum and a bearish bias. The lower trend-line is my confirmation trend-line. I am waiting for a break and retest to the great highlighted zone before the first downside target of 1.33780. If that breaks I see It continuing to the next support of 1.32750.
Commentaire
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This is an analysis trade at your own risk with proper risk management.
Happy Trading!
Commentaire
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Failed to break the trendline waiting to see if the yellow rectangle of resistance is broken or we see a push back down and then the move happen.