This pair has been trading in a rising trend line (TL) for the past 5 months, and it is now in a bearish corrective phase of the upward move. this corrective move should extend all the way to 1.3090 before another impulsive bullish move occurs on the pair possibly taking us to 1.3750 or above.
going to lower time frames TF we can see that the pair is stuck in a rising channel on 1H and 4H.
Trade idea:
wait for a breakout and close of the Chanel on 1H or 4H and join the ride south for 150-200 pips.
Enjoy
going to lower time frames TF we can see that the pair is stuck in a rising channel on 1H and 4H.
Trade idea:
wait for a breakout and close of the Chanel on 1H or 4H and join the ride south for 150-200 pips.
Enjoy
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