Simple price action technical analysis, based on SR and trend lines.
Price has reached ad e very strong Support level, and a break under this has been invalidated, creating a false break.
There is one possible scenario:
Entry - Aggressive entry at the support level.
SL - under the false break, at 0.6660 level.
TP1 - 0.685 at the first resistance level.
TP2 - 0.702 at the next resistance level.
Don't stumble trading, Trade Safe!!!
Price has reached ad e very strong Support level, and a break under this has been invalidated, creating a false break.
There is one possible scenario:
Entry - Aggressive entry at the support level.
SL - under the false break, at 0.6660 level.
TP1 - 0.685 at the first resistance level.
TP2 - 0.702 at the next resistance level.
Don't stumble trading, Trade Safe!!!
Trade active
Comment:
The price is consolidating in a sideways channel. Usually this is a continuation pattern, or in this case, the price is expected to fall. Still, caution is required with FED news today.
Trade closed: stop reached