The price of this currency pair is currently at the top of the downtrend channel.
We are also facing a downtime Dodge candle in the H4.
We are faced with 3 Plan
Plan A: Price will break top of the channel and move up till the resistance zone of 1.23400,in the pull back we can enter the buying position.
Plan B: The price should continue to down and after hitting the major trend line will change the trend and goes up till the resistance zone of 1.23400, we can open the Sell and close in the trend line and then open Buy and hold the trade till the resistance zone of 1.23400
Platform C: The price will fall and break the trend line. At this situation , if we have a selling position, according to Plan B, will not close the position and hold the trade until the price reaches to the 1.1600, which is in the area of 61.8% Fibonacci.
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NOTE: PLEASE ENSURE YOU DO YOUR OWN ANALYSIS BEFORE TAKE ANY ACTION
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OPEN BUY OR SELL , AFTER CONFIRMATION OF THE RETURN MOVE