Here is some simple break-retest analysis.
I would like to see a retest of the bottom trendline and further bearish confirmation for a short position on this pair.
Confluence added to the analysis with a fibnoacci retracement of around 61.8 - 76.4%.
Risk reward will be 3:1 on this trade if it retraces the correct amount.
I would like to see a retest of the bottom trendline and further bearish confirmation for a short position on this pair.
Confluence added to the analysis with a fibnoacci retracement of around 61.8 - 76.4%.
Risk reward will be 3:1 on this trade if it retraces the correct amount.