As seen on Daily chart, an inverted Head & Shoulder pattern has formed and the cable is moving in perfect tune with the formation.
1.2300-1.2380 being a value accumulation zone.
Neckline breach occurs on sustainability above 1.2450
Upside Potential is seen to reach out to following levels:
1.2660
1.2760
1.2970
1.3180
This is a projection based on Fibonacci Retracement aligned with Inverted Head & Shoulder Pattern identified on Daily chart.
Weekly close below 1.1850 invalidates the projection.
Note: This is only for education purpose and not a trading advice.
1.2300-1.2380 being a value accumulation zone.
Neckline breach occurs on sustainability above 1.2450
Upside Potential is seen to reach out to following levels:
1.2660
1.2760
1.2970
1.3180
This is a projection based on Fibonacci Retracement aligned with Inverted Head & Shoulder Pattern identified on Daily chart.
Weekly close below 1.1850 invalidates the projection.
Note: This is only for education purpose and not a trading advice.