As long as the 50 ema on the 3 hour timeframe holds as resistence, this move is active.
As soon as the current support line is broken, we can expect this to fall
At the moment being, it is looking more prominent to fall down as it's been in a consolidation for a few days and the long term trend is still bearish (daily and weekly).
If it does make a pullback up, then we can long it 100 pips by planning our entry on the shorter timeframe.
Trade safe and don't forget to like if this was helpful! Thanks.
As soon as the current support line is broken, we can expect this to fall
At the moment being, it is looking more prominent to fall down as it's been in a consolidation for a few days and the long term trend is still bearish (daily and weekly).
If it does make a pullback up, then we can long it 100 pips by planning our entry on the shorter timeframe.
Trade safe and don't forget to like if this was helpful! Thanks.
Trade closed: target reached:
A little pullback is to be expected back up. Within 8 hours, I will be shorting this again if the situation looks good until 1.618 fibonacci retracement (0.978).