The pair has broken out of the immediate downtrend to the downside. On the we are just a few pips shy of the April highs suggesting a short term top around here, the forecast is the break down will be an impulse and we should head towards the May lows around 0.7145 giving a nice opportunity to go short.
The following assumptions are made:
- Breakout price : 0.7679
- Confirmation price : to be updated
- Minimum Forecast pips : 100-190 pips
- Maximum Forecast pips : 500 pips
- Duration: 2-10 days
- Probability : >90.%
My entry will be based on the price in the lower time frames on either Monday or Tuesday. I will update when I enter based on my strategy.
Note: Due to many requests and questions regarding entries & stops in the charts I post I have decided to make the future charts done on 4h or less I post here to be as informational as possible regarding entries, stops, targets and thus hopefully help those who follow me. I realize that the community needs more in the charts as the majority here can make use of guidance in their trading en-devours. I will try to update the charts as much as possible with entry notice, stops, profit taking and any other adjustments that may need to be taken.
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