Hi Traders!
As you can see the market is in a healthy downtrend.
The market even broke out of the support at 1.29700.
The candle which broke out was a very strong candle in relation to the others.
That is a sign of strength in the market.
After that the market retests the area with a bearish flag.
If the market bounces back successfully, then there is a good chance of a trend continuation.
We recommend to sell the break of the flag with a risk-to-reward of 1 to 2.5.
Thanks and good luck :)!
As you can see the market is in a healthy downtrend.
The market even broke out of the support at 1.29700.
The candle which broke out was a very strong candle in relation to the others.
That is a sign of strength in the market.
After that the market retests the area with a bearish flag.
If the market bounces back successfully, then there is a good chance of a trend continuation.
We recommend to sell the break of the flag with a risk-to-reward of 1 to 2.5.
Thanks and good luck :)!