good morning everyone,
everyone is looking for selling opportunities on this pair right now,
being a confirmation trader, I always look for confirmation signals before
I execute any order.
looking left you can notice that the market has reached a decent level of resistance.
RSI shows us clear bullish exhaustion being overbought with divergence.
also, we see the formation of a classic reversal pattern - head and shoulders .
I will be looking for a bearish breakout of a neckline to sell the market.
targets will be based on structure,
however, you can extend your second target to 109.8 - retest of the low.
good luck!
Comment:
bearish breakout
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