Here on the 1hr chart we have a few different reasons to believe this pair may be headed lower. These reasons consist of a double top, RSI divergence and previous structure support that could now act as resistence. There was also a couple of fib levels that came in around this area aswell and we are very close to the even handle number of .99000 which will somtimes act as support and resistence.
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This seems to be like a classical example of a consolidation within an energy-building rectangle. Although I think the price may hit your target, it should continue its upward move before the big move down, which I'm after to catch. Here's how I see it:
StevenH
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I agree that we may not see a complete move back below the lows at .96584. we could definitely see another upward push before the next impulse move down. Best of luck to you my friend.
KISSTRADING
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You could have bought up the resistance come support here brother, did you do so?
Alireza_ITS
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Great analysis!. My view tough >
walker.england
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Congratulations! Your chart has been selected to be highlighted as the post of the day. This is a great example of oscillator divergence relative to price action.
StevenH
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Thanks! It is amazing to have my analysis recognized! I really appreciated it!
piponomics
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Interesting choice...?
KISSTRADING
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If you're going to comment in such a way, explain what you mean. Why so?