The daily timeframe tells us about the price reversal from 1.08000 support zone and a possible upward movement.
The 4h chart supports a possible uptrend. The price broke the local downtrend line and moved upward. It confirmed the trend reversal. Now the price reached 1.08765 resistance, where we can expect a pullback.
As the market tries to build a local uptrend, the pullback to the 1.08000 with a reversal from it can be used for opening long trades. For the market, it is very important to stay above the previous swing low at 1.07775, if we want to see the further upward movement.
Possible entry and exit points for long trades are: Entry Price: at 1.08000 Stop Level: below 1.07775 Profit Level: at 1.08765
Risk per trade must be no more than 1% of your capital.
The breakout below the local market low will confirm the continuation of the main bearish trend.
Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.