Price on this pair is looks to be resting at a decision point. Will this level hold?
Potential short once price crosses 1.2820 level
Confluences for a short opportunity below:
- Rising wedge pattern which typically favors a break to the downside
- 38.2 retracement of the previous swing
Initial targets are at the base of the wedge with the opportunity to hold for extended targets which also lies at a -27 fib extension.
Potential short once price crosses 1.2820 level
Confluences for a short opportunity below:
- Rising wedge pattern which typically favors a break to the downside
- 38.2 retracement of the previous swing
Initial targets are at the base of the wedge with the opportunity to hold for extended targets which also lies at a -27 fib extension.