Head and shoulder pattern formed , neckline is a key level (0.75400), 78.60% is also in that zone
price broke and retraced back to 0.75400
expecting price to travel to 127.20% (TP1) and to 161.80% (TP2)
stops below 50.00%
small rising wedge pattern formed at key area
price broke through key area (1.40000) wedge may be a retracement
if price breaks below bottom trendline i will enter short
a similar pattern formed just above weekly level which may trend continuation
double bottom formed on daily chart, price may be going for triple bottom
price has been rejected by resistance a few times at 0.72300
if price breaks phaseline i will enter short
I expect price to consolidate between the 61.8% and 78.6% levels
i also expect the price to move down to 161.8% which is also possible future support at 0.70500 (TP)
Nice possible bounce at trend line. It goes left of the graph so pan to see that.
My indicators agree with the fibs, I know they may be confusing lol.
Buying in at 0.79213 and stop at 0.79100 with a pt of 0.8100
Forecast for the both sides of chart.
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Trade record & statistics: miud.in
The 200SMA on this pair has acted as support throughout February in what is a very ranging pair.
We see some selling pressure at 119.9, which is indicated to be holding.
Price action at the current level is indecisive, I could see us travel to 119.3 before bouncing back up as the overall trend is still up on this pair.
I would look for buying support to TP around...