The pair has moved into consolidation and has made a channel on the Previous High(PH) and Previous Low(PL).
Although the pair maintains a bearish bias with EMA,200 > EMA,50. The pair is oversold on the RSI.
On the 1H chart the pair is also showing significant bullish divergence on the RSI (Higher bottoms), and a move to the upside can be expected. All thats missing is confirmation in the form of a reversal pattern (e.g. Head and Shoulders) at peaks of the channel.
Entry: 0.98657
S/L: 0.98400
T/P 1: 0.99430
T/P 2: 1.00064
Although the pair maintains a bearish bias with EMA,200 > EMA,50. The pair is oversold on the RSI.
On the 1H chart the pair is also showing significant bullish divergence on the RSI (Higher bottoms), and a move to the upside can be expected. All thats missing is confirmation in the form of a reversal pattern (e.g. Head and Shoulders) at peaks of the channel.
Entry: 0.98657
S/L: 0.98400
T/P 1: 0.99430
T/P 2: 1.00064
Trade closed: target reached