The pair closed below the daily trendline support level (might be a false breakout) but the horizontal support level seemed to hold.
Next week we may see the pair retrace upwards if the candle formed on Monday will close above the trendline support level.If it does, wait for the pair to cross the neckline then enter a Long position.
If the pair does not close above the Daily trendline support level (on Monday), we may see the pair testing the horizontal support level and if it does not hold, eventually breaking, it will move down to the 109 support area.
Be on the lookout for any confirmation candle to either go Long or Short on this pair.
Next week we may see the pair retrace upwards if the candle formed on Monday will close above the trendline support level.If it does, wait for the pair to cross the neckline then enter a Long position.
If the pair does not close above the Daily trendline support level (on Monday), we may see the pair testing the horizontal support level and if it does not hold, eventually breaking, it will move down to the 109 support area.
Be on the lookout for any confirmation candle to either go Long or Short on this pair.
Trade active:
If the Price closes above the neckline (since the price is above the trendline support), I will go long.