As with many of the currency pairs, we are at a previous structure Low where we can expect to see a reaction of some sort.
The market could break through and continue down or we could see some relief in the market and even a trend reversal.
Based on my analysis, I think there is a strong probability we can see a counter trend move here down at 6931s.
You can see market is stalling into a descending channel showing RSI divergence and lots of bullish rejection .
We will be paying attention to the close of this candle during our London live trading room this morning and finding an entry reason to buy this market.
Potentially 100 pips to gain out of this trade with a good risk reward profile.
If you are interested in coming into our live trading room to watch me trade live every day, just sign up for free at www.tradeempowered.co.uk
Good Luck
The market could break through and continue down or we could see some relief in the market and even a trend reversal.
Based on my analysis, I think there is a strong probability we can see a counter trend move here down at 6931s.
You can see market is stalling into a descending channel showing RSI divergence and lots of bullish rejection .
We will be paying attention to the close of this candle during our London live trading room this morning and finding an entry reason to buy this market.
Potentially 100 pips to gain out of this trade with a good risk reward profile.
If you are interested in coming into our live trading room to watch me trade live every day, just sign up for free at www.tradeempowered.co.uk
Good Luck