Price made a strong move lower testing the lower trendline of the channel.
We are projecting price to make a correction (retracement) towards 1.1374 area for the day.
Should price retrace in a corrective manner, we are expecting price to make another impulse move lower towards 1.1236.
Lookout for shorting opportunities around 1.1374 area.
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.