The pair has failed to break a major resistance level, head and shoulders formed and the ascending channel has been broken...Sell on a clear formation of a bearish price action signal
the downward movement has most liely finished the corrective movement towards the 5.0 fib retracement level...so we will e anticipating a move to the trend line support area on yheone hour time frame
The pair have broken out of the consolidation zone and has just retested the breakout level...so we are looking for a potential long term buy with great risk to reward
We are looking for a correction to the the 5.0 or 6.18 fib retracement levels and then a move downwards to the trendline support...On the longer term we are looking for possible long opportunities as it seems the corrective waveof the uptrend has finished and we are now looking for long term long positions on this pair
Price broke a major support level on the 1hr time frame and is going back for a retest, watch out for a bearish price action pattern on retest of the broken support level now turned resistance...Great opportunity, awesome risk to reward...Don't rush into the trade, BE PATIENT Allow the trade to form completely before taking the sell...Good luck!
the pair has rejected the 0.618 fib retracement of the previous downward move which was also a strong resistance zone, we can now say to a reasonable extent that the correction has finished and we are looing for a move downward toward the previous support levels.
