In our last forecast, we correctly forecasted the pair to start a pullback. In the coming week, we foresee the price to make a correction before dropping again, having a great chance to reach the confluence created by the support level and the trendline. Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
@umarshah68, Hello. Based on our methodology, the higher probability move should be a bearish one. We recommend waiting for a trendline breakout that will close underneath the rectangle (as highlighted in the chart below), followed by a correction that should act as a confirmation for an impulse that could reach the bottom channel line which coincides with a strong support area. If we don't get this confirmation we recommend avoiding trading this instrument.