Hi Traders!
The market is in a downtrend.
The reason why we are buying is ( and that's of course against the trend ) , that the market has not much strenght to push the price lower.
That's why we're looking for a retracement/buy opportunity.
Because of the openig wedge and the resistance at 0.94000 this could be a good breakout trade.
The target is the important key level of the 61.8% of the Fibonacci Retracement.
The Fibonacci Retracement covers all of the downmovement.
We recommend to trade the breakout of the resistance.
Thanks and good luck :)!
The market is in a downtrend.
The reason why we are buying is ( and that's of course against the trend ) , that the market has not much strenght to push the price lower.
That's why we're looking for a retracement/buy opportunity.
Because of the openig wedge and the resistance at 0.94000 this could be a good breakout trade.
The target is the important key level of the 61.8% of the Fibonacci Retracement.
The Fibonacci Retracement covers all of the downmovement.
We recommend to trade the breakout of the resistance.
Thanks and good luck :)!