Price in uptrend and buyers are still in control. Based on Fibonacci Retracement
, the price might be retrace to 0.382 in completing Wave 4 before it will move to the next resistance level
to complete Wave 5. Another confirmation that we have, the entry is in the area of strong significant support and resistance
which the price made a clean break to the previous resistance area
and created new support area
(swap zone: DBD + RBR
). Last but not least for final confirmation, we need to take a look at price action whether it move to the entry point with compression or in momentum. The entry exactly in 1.08000 which favorable for big traders to place an order at Big Round Number ( BRN
). Just risk 45 pips if the price against the analysis. Safe take profit at 1.08700 or set breakeven and take profit at 1.09200. Happy trading!