On the 1hr chart, we can see price has previous rejected at the current 1.68250 level. Creating a resistance zone.
I'm expecting price to retrace back to the highlighted Support Zone.
You can see from at the end of last week, price broke the ascending trend and has retested. This usually indicates a heavier sell off.
When you bring out the Fibonacci, you can see our support zone sits comfortably within the 'Golden Zone'. THEREFORE, THATS WHERE WE'RE HEADING!!
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I'm expecting price to retrace back to the highlighted Support Zone.
You can see from at the end of last week, price broke the ascending trend and has retested. This usually indicates a heavier sell off.
When you bring out the Fibonacci, you can see our support zone sits comfortably within the 'Golden Zone'. THEREFORE, THATS WHERE WE'RE HEADING!!
Make sure you like, comment and follow for more trade ideas!