Expecting a drop to 1.13-1.14, and a drop under the 1.15 area on maintained supply would be a sign that we are in fact moving toward the area. ( drop under 1.158, would be also a important step to even consider 1.15).
What could happen if we do break upside 1.167, is price going testing 1.18, which would also provide a great sell entries with a tight stop loss on sign of light demand at the zone.
Would not consider a buy position on long term unless we break upside 1.19 on SOS, which I would look for another test of 1.22, and then if we would break upside 1.22, that would be another story.
But considering how bearish this pair has been since it reached 1.22 one year ago, I do expect it to drop.
4 hours
we could have something like this, aiming at 1.15 as first secure take profit area, if we test 1.164 on light demand
Daily
Weekly
Monthly
What could happen if we do break upside 1.167, is price going testing 1.18, which would also provide a great sell entries with a tight stop loss on sign of light demand at the zone.
Would not consider a buy position on long term unless we break upside 1.19 on SOS, which I would look for another test of 1.22, and then if we would break upside 1.22, that would be another story.
But considering how bearish this pair has been since it reached 1.22 one year ago, I do expect it to drop.
4 hours
we could have something like this, aiming at 1.15 as first secure take profit area, if we test 1.164 on light demand
Daily
Weekly
Monthly
Comment:
the chart that was associated to the 4 hours;
Trade closed: target reached