Tendency: Downtrend ( )
Structure: Channel ( )
Observation: i. The fall of the USD since the beginning of July 2020 appears to continue even though we had a heavy consolidation pattern throughout the later part of last month.
ii. My Key level at 6.98000 is still a level on my radar in the coming week as I anticipate a significant Breakdown considering the selling pressure @ 7.00500.
iii. Kindly refer to my previous broadcast on this pair as the expectation (AB = CD) is still in existence.
Trading plan: SELL confirmation with a minimum potential profit of 550 pips.
Potential Duration: 1 to 5 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
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Past performance is not necessarily indicative of future results.