Tendency: Downtrend ( )
Structure: Break-down |
Observation: i. . of the most recent Impulse leg culminates at 1.37000 followed by a momentum.
ii. The momentum which started last week finally breaks our key level @ 1.35500 which also coincides with a Breakdown of our .
iii . Expecting a further rally to the downside in the following week(s) with a 1.414 extension target.
Trading plan: SELL confirmation with a minimum potential profit of 350 pips.
Potential Duration: 4 to 8 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
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