We have been ranging for quite a while on this pair and have not hit the 50% fib retrace and support level at around 0.0460. I expect price to touch previous ATH and potentially break this for a new ATH
We have seen a retest of the support turned resistance at 0.6950 and i suspect we may see a drop in price back to 0.6820 at which point we may see a break of this support or a potential strong bounce off this area.
It looks like we may be looking at a potential continuation of the bullish run on this pair as it looks as though the price dip around 113.00 just so happened to be a sell trap. However another break below 113.50 will be confirmation of further bearish movement. For early entries now would be a good opportunity to jump in (114.05) however a break above the...
As we were stopped out. I will be looking to re-enter this trade at the 0.7868 level where we will potentially form a double top.
Targets will still be 0.7680 at which point we may be looking at a continuation of the bullish trend. Another post will follow soon showing my analysis for this future long.
After a very slow start to the week yesterday due to various national holidays, we have hit an area of support turned resistance at around the 0.7800 area. I expect price to continue dropping from here with a target of 0.7680 which i believe will be a strong support level.