Possibilities on the this pair. Personally i am bias to short position as it can be seen that the price has rejected from fibo level with a bearish candle.
The price is hovering around a resistance level and Fibo 50%, which is also engaging with the MA. if the price couldn't break these levels, I would expect the price falls to the previous support.
Looking at how the price has been respecting 50 SMA in the past and a bearish engulfing candle was also formed under the 50 SMA and under a falling resistance, a possible short scenario to the support of falling wedge around 0.9598 is foreseeable.
The current price is hovering around 50 SMA and fibo 61.8%. If the price couldn't close above these levels, a potential short to the ascending trendline and fibo 50.0% is foreseeable.
Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together.
Disclaimer
Please note that the content on this...
As the price has broke out of the falling triangle pattern, i would foresee the price shorting to the previous support and respecting the ascending trend line, thereby creating a higher low.
The current price is hovering around the major resistance and Fibo 38.2%. A possible short back to the Fibo 50% and ascending trend line is foreseeable in forming a HL.
