Last week price tested key resistance where price rejected it. Price has then fallen sharply testing key support as seen in the chart. The sharp changes in price could be attributed to volatility regarding upcoming high event risk. These events include, Trump EURO trade meeting, ECB meeting, and the much anticipated US Q2 GDP report.
Scenario One (Bearish Breakout): Price breaks through key support, heading to the next support
Scenario Two (Rebound): Price bounds from key support to the upside.
Comment: Although the trend structure looks quite attractive to trade, volatility could increase significantly in the coming days. So be patient and minimize risk!
Scenario One (Bearish Breakout): Price breaks through key support, heading to the next support
Scenario Two (Rebound): Price bounds from key support to the upside.
Comment: Although the trend structure looks quite attractive to trade, volatility could increase significantly in the coming days. So be patient and minimize risk!