The pair has failed to sustain the break below 0.7700 support level, forming an inverted head and shoulders pattern which was broken earlier. Meantime, a clear bullish divergence is seen on RSI over the daily and four-hour time intervals. I am looking for a minor pullback from the descending resistance shown on chart , for a possible retest of the broken neckline of the inverted H&S pattern before moving higher again.
This could be the case , and could be not :) . Wish me luck
Join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
Notes:
-If 90 percent of first target is reached I move stop loss to breakeven.
-Remember: Losing is a main part of the game
This could be the case , and could be not :) . Wish me luck
Join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
Notes:
-If 90 percent of first target is reached I move stop loss to breakeven.
-Remember: Losing is a main part of the game
