Watch out this pair very carefully as it's trading now near the downtrend line. This line proved to be stiff resistance.
The pair is more likely revisit the support structure as long as it is below the downtrend line.
Today,the price has rebounded from 1.35 support. However, it's still trading below major moving averages.
If it manages to break up the line, 50-day EMA will be the next resistance.
In the flip side, any fall to the support structure will be a good opportunity for buyers to jump in.
As always, use proper risk management on all your trades.
Trade Wise and Good Luck,
The pair is more likely revisit the support structure as long as it is below the downtrend line.
Today,the price has rebounded from 1.35 support. However, it's still trading below major moving averages.
If it manages to break up the line, 50-day EMA will be the next resistance.
In the flip side, any fall to the support structure will be a good opportunity for buyers to jump in.
As always, use proper risk management on all your trades.
Trade Wise and Good Luck,