Big rejection form the 1.1000 it is possible that we may hit this level before a break down and through the trend however it is important to consider both options as we could break through this is resistance and head back up to 1.1070 levels.
Comments
Trading_Wave_By_Wave
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this is a very nice analysis bearish wedge or bearish triangle I think its the way to go
Trading_Wave_By_Wave
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looks like we get the move down tomorrow but for now enjoy the swings up and down
Graftfx
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Thank you very much Kizer777
stream
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There is no rejection .. this level is broken long time ago .. ..Area 1.0770 - 1.0764 is the most powerfull .. The monthly support is 1.0684 , .. But the price never came to that support , becaose 1.077 hold .. That means eu need one more bottom at 1.0765 and nothing can stop it to rise . Take care ..
Graftfx
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Mate. I commend your confidence however you cant always be right we had rejection from that level yesterday so it clearly isn't broken as of yet. Yes it is a strong area I do see it long term rising. The risk reward on this trade is around 1:4 which is great I look for the maximum take profit zones and use colour zones to portray take profit areas. So target 1 would already be hit.