The pair has dropped significantly in the past few months and is oversold on the daily and weekly timeframe.
In addition to that,the price has closed above the support level twice now and has formed a double bottom pattern with bullish divergence on the daily timeframe.
This is a clear indication of a bullish retracement in the coming weeks.
Initial targets are :
Look for entries on lower timeframes with proper risk management.
In addition to that,the price has closed above the support level twice now and has formed a double bottom pattern with bullish divergence on the daily timeframe.
This is a clear indication of a bullish retracement in the coming weeks.
Initial targets are :
- 1.3300
- 1.3450
- 1.3714
Look for entries on lower timeframes with proper risk management.
