Bearish biased on higher tf, weekly and daily.
Strongly support by the ascending channel breakout on H4.
We are expecting price to retest the area of sensitivity (1.128-1.129)
Alternatively, pending order at 1.122 (inside bar candle on daily)
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SWING YOUR FREEDOM
KINGS CAPITAL
Clearly shows the ascending channel has been broke.
Bears in control.
Wait for a pullback before we execute the orders.
Entry at : - Zone highlighted
- Fibonacci retracement
- wait for price action in that area.
Strong buying pressure on higher TF
Trendline (blue) breakout and wait for retest before we are going long.
The ideal area for going long
-trendline (red)
-daily support area
-61 fibo retracement
And still, we need buying signal/price action in that area before we execute.
Strong buying pressure on higher timeframe.
Trendline has been broke on H4.
Waiting for price action in the resistance area before we are going for long.
Currently there is no clear direction on this pair. If there is a rejection or price action on the trendline, I would go for buy.
However if the price manages to break the channel, ill be waiting for retest and go short
