Hello traders,
Looking at price we see it has reached the resistance zone then pull back, in the past the parallel channel has proven right on holding at different Support and demand levels
Trading below 0.5 Fibonacci level we expect a consolidation before price choose a direction
Currently we are biased on a short position, placing SL at 0.618 Fib level and TP at 1.00000
If you find my analysis helpful and productive, press the like button follow and comment your view in the comment section, this motivates me to bring this kind of update frequently
Looking at price we see it has reached the resistance zone then pull back, in the past the parallel channel has proven right on holding at different Support and demand levels
Trading below 0.5 Fibonacci level we expect a consolidation before price choose a direction
Currently we are biased on a short position, placing SL at 0.618 Fib level and TP at 1.00000
If you find my analysis helpful and productive, press the like button follow and comment your view in the comment section, this motivates me to bring this kind of update frequently