Hello, after forming the first lower low this pair is oficially on downtrend. I think the last upside move is just a correction and price should continue the downtrend long term.
We can use this setup to enter short, we have:
- EMA 55 as resistance
- round level 1.400 as resistance
- convergence divergence combination (not shown)
- previous wave 4 as resistance.
Use your prefered trade management system
Best regards.
*****************DISCLAMER********************************************************************
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Follow me on Twitter for updates: @fxtrader2000
We can use this setup to enter short, we have:
- EMA 55 as resistance
- round level 1.400 as resistance
- convergence divergence combination (not shown)
- previous wave 4 as resistance.
Use your prefered trade management system
Best regards.
*****************DISCLAMER********************************************************************
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Follow me on Twitter for updates: @fxtrader2000