Bearish parallel channel in progress. A breakout of weekly support at 88.00 is needed.
Potential target 1: 87.50
Potential target 2: 87.00 (gap)
* Above 89.60 this setup would be invalidated.
Potential target 1: 87.50
Potential target 2: 87.00 (gap)
* Above 89.60 this setup would be invalidated.
Note
* Above 88.60 this setup would be invalidated.Note
Short setup was invalidated momentarily with a small spike above 88.60 but then came back and level 88.00 was broken giving a second chance.Target 1 reached. This level can be use to take decisions in his path to target 2.
Note
Price rejected from target 1 area. Original setup invalidated but levels on chart still valid to take decisions in this pair.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.