After our last call on this pair (link below) we make a new analysis on this pair.
On the monthly chart, we can see that price is moving inside a descending channel that shows us a bearish major trend.
The price on the daily chart could not make new recent highs, creating a double top and started a retracement move that got back till the 0.5 Fib level.
At this stage being also the level a quite strong support, we can expect a bounce till the 0.382 level before a new test of the support.
IF and only if the price will break below the 78.300 area, we can set a nice short order according to with Plancton's strategy.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
On the monthly chart, we can see that price is moving inside a descending channel that shows us a bearish major trend.
The price on the daily chart could not make new recent highs, creating a double top and started a retracement move that got back till the 0.5 Fib level.
At this stage being also the level a quite strong support, we can expect a bounce till the 0.382 level before a new test of the support.
IF and only if the price will break below the 78.300 area, we can set a nice short order according to with Plancton's strategy.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
