Price might fill the previous Vacuum Gap which is around 105 level by taking out the Buyside Liquidity above after that price might pullback into bearish , anything can happen ! Be Safe !
Daily Time Frame forecast , I am expecting some bearish continuation around 111.5 - 110 and price might evolved into impulsive bullish momentum at the end of this week / around 2nd of week Oct !
I has bounced off a dynamic resistance level and I do believe it will come down to this new level of support for a 2 risk reward.
Just my idea take it as u wish this is not financial advice or a signal. Just Analysis. Do your homework. Happy Trading.
On the Weekly Chart, the pair almost seems to be making a Bear Pennant and has been in a significant downward trend. at the moment there is a Bearish Bat pattern! typically one might want to place stops above the pattern's entirety, but I like Risk/ Reward to be at least 1 risk/ 2 reward. There are 4 TP's each at signiciant Fib. Retrace levels of the AD leg....
