Hi Traders!
The market broke out of the descending triangle (H4) on 27th December '19.
Then it fell until the support at 0.96500.
It formed a bullish engulfing pattern there.
So, the market made a consolidation at the area of the 61.8% Fibonacci Level.
It retested the area two times.
Now it will continue the trend and make another swing at least to the level at 0.96500.
We have a save SL above the 200MA.
We recommend to sell the next swing with a risk-to-reward ratio of 1 to 2.3!
Thanks and good luck :)!
The market broke out of the descending triangle (H4) on 27th December '19.
Then it fell until the support at 0.96500.
It formed a bullish engulfing pattern there.
So, the market made a consolidation at the area of the 61.8% Fibonacci Level.
It retested the area two times.
Now it will continue the trend and make another swing at least to the level at 0.96500.
We have a save SL above the 200MA.
We recommend to sell the next swing with a risk-to-reward ratio of 1 to 2.3!
Thanks and good luck :)!