To start with, the sentiment of the market is bearish. A nice downtrending channel has been formed and the price is at the lower boundary of it. We can expect the price to keep growing on the short-term and complete the re-test of the broken zone of support and visit the area of the upper boundary of the created channel before continuing its downside movements. We are gonna wait for a nice bottom to be formed before we set our target at the resistance line of the formed range. The long-term target profit will be set at the 1.23 zone of crucial support.
Happy trading, family!
Happy trading, family!