Hi Traders
This pair broke the Trend line and goes all the way up to an important zone that can be good res zone and push the price lower.
there are 2 reasons for short this pair :
1.reaction of the major zone.
2.going back to retest the trend line.
and also there are 2 scenarios for going bullish :
1.if the price break the zone after retest we can buy if there was an reversal pattern.
2.and also there is a possible inverse head and shoulder that should be considered.
This pair broke the Trend line and goes all the way up to an important zone that can be good res zone and push the price lower.
there are 2 reasons for short this pair :
1.reaction of the major zone.
2.going back to retest the trend line.
and also there are 2 scenarios for going bullish :
1.if the price break the zone after retest we can buy if there was an reversal pattern.
2.and also there is a possible inverse head and shoulder that should be considered.
Comment:
A big bullish candle broke the res zone now we should wait for a retest for confirmation.
Comment:
1. bullish scenario