Break under 1.73 on SOW = sign movement started, and could aim at 1.70, and 1.68 on longer term.
But expecting a movement to 1.76 first. And once seeing demand weakening, I would aim at 1.72-1.73 as first secure tp. This pair is looking really interesting because it be providing tight stop losses.
Monthly
Since June been retesting 1.758-1.76 on sustaining demand. Even if did show absorption of it at touches of 1.76, it remained resilient and was still heavy on last monthly closure, from where I would need to see an actual decrease of it to consider it weakened, and expecting more testing upward from it.
Weekly
Daily
But expecting a movement to 1.76 first. And once seeing demand weakening, I would aim at 1.72-1.73 as first secure tp. This pair is looking really interesting because it be providing tight stop losses.
Monthly
Weekly
Daily
Comment:
supply starting emerging again, could have good opportunities to sell scalp to around 1.746 and see what's up there, if a retest upward gonna happen, or if we ready to go more down
Trade closed: target reached