Technically, we see a big retrace on this pair, after a top_down analysis.
As expectations are high on the rate cut; we possible could see a shift in the downtrend. for a much bigger retrace to price 0.69219 to test our double top structure.
Afterward a continuation push to the down side can be seen.
A top-down analysis has been made on this pair. we possible see this pair going straight to price 109.000 and beyond the level. Await good bullish confirmation after third touch of that level. Why do we possible see dat touch? On the daily time frame an inverted H/S pattern was spotted: so we will possible wait and allow price tell us were its heading to.
Expect a retrace to the downside and after what BUY. ( this pair is touching a 4HRS support for the third time. you can as well put a buy limit at point 121.265; that is 50% of the 4HRS pin bar.)
Wish you a good trading day.
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