Hello Traders,
This is just my personal opinion about his pair and what i see and anticipate happening.
On the daily chart price broke the blue ascending trendline with an impulsive bearish move. price has since tapped into to a previous level of support
around .71600. the overall market is bearish but is showing a bit of sluggish bearish momentum, which based on the volume could indicate a potential pullback
4hr showing a potential oversold status and long wicks on the bottom of several early candles and we could be seeing a double bottom in the making, couple that with
the imbalance that needs to be filled above.
In my opinion we will see a pullback into .73400 area before a move back down, target .7000, a key demand zone.
I am looking for shorts but will enter a counter trend trade if the price breaks above double bottom neckline.
Trade WELL not OFTEN
This is just my personal opinion about his pair and what i see and anticipate happening.
On the daily chart price broke the blue ascending trendline with an impulsive bearish move. price has since tapped into to a previous level of support
around .71600. the overall market is bearish but is showing a bit of sluggish bearish momentum, which based on the volume could indicate a potential pullback
4hr showing a potential oversold status and long wicks on the bottom of several early candles and we could be seeing a double bottom in the making, couple that with
the imbalance that needs to be filled above.
In my opinion we will see a pullback into .73400 area before a move back down, target .7000, a key demand zone.
I am looking for shorts but will enter a counter trend trade if the price breaks above double bottom neckline.
Trade WELL not OFTEN