Price has been reversed from the top of the weekly flat. After a sharp impulsive wave, it has been corrected to its 0.618 Fibonacci level. Right after that, it has been started the continuation of the downside and has been breakout the bullish daily channel after a double top. Now the breakout zone has been retested and we are expecting the hourly structure breakout followed by another impulsive bearish wave to the previous daily support zone as well as the 1.618 Fibonacci level.
It will be a good idea to go short after the hourly structure breakout to the support area which is about 120 pips.
It will be a good idea to go short after the hourly structure breakout to the support area which is about 120 pips.