Price created a flag pattern the can be the first wave of a move to upside for the retest of the top of the structure. Flag was broken out from a bullish 240 min engulf and price is consolidating above the flag.
On daily chart price tested several times 200 EMA and the bottom where the price is now can be a good reversal zone for one more move up.
Any break below 1.8957 and the green zone to downside will confirm that more downside is coming.
Good Luck!
On daily chart price tested several times 200 EMA and the bottom where the price is now can be a good reversal zone for one more move up.
Any break below 1.8957 and the green zone to downside will confirm that more downside is coming.
Good Luck!
Comment:
Daily chart
Trade closed: stop reached
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