Nice confirmation today on the 4hr timeframe. It held the support area around 1.725, with a nice rejection candle, giving a wider bullish channel. Additionally, it completed a measured move at 1.803.
After today's move, we will be looking for a retracement, where support should be verified, and a long position can be taken. Targets ahead are 1.836, 1.854, and 1.880.
Breakdown of trendline yields targets 1.704, 1.681, and 1.647, where direction will be reevaluated.
After today's move, we will be looking for a retracement, where support should be verified, and a long position can be taken. Targets ahead are 1.836, 1.854, and 1.880.
Breakdown of trendline yields targets 1.704, 1.681, and 1.647, where direction will be reevaluated.
Trade closed: target reached
