Hence we got it wrong in our prior analysis. Thanks to the FTMO that we have our Daily analysis. We expecting the price to hit the 61.8 Fib Level which happens to be our resistance zone. in addition we see our indicators indicate that it's in the oversold area
Key Take. the Demand area was in support analysis, and when the bears were coming in, we ride with the wave. Histogram is red adding an icying to the cake. The fun don't end there, we see that the price is below the MA. An extra hint * we can ride all the way down to the 1.24875.
We are sited at the moving average, which illustrate we are in a bullish rally. From this the Monthly, and weekly Timeframe we see its still have a strong bullish rally. We place a Buy Limit @0.71734 area which is our 61.8 fib level which happens to have a strong support area.
Looking on that 61.8 Fib level, we see a very strong resistance which in our setup will be used as a support for a bullish uptrend to the previous HH from 1.81 - 1.82 level should be our TP Level with low risk to reward ratio.
for further confirmation, the price is seated above the MA. irrespective WE BUY
We see that the market is currently siting at the monthly support, looking at a weekly view, the last impulse leg it's support is seated below the monthly. I'm waiting for a retest at the weekly support down there; we place a Buy Limit @ 0.90280 all place a Buy Stop @ 0.91142
Once the trend has retested the previous highs @1.40s level i'm expecting a retracement to the downside where we enter our trade at 50% Fib level which seems a strong support bases by the fact that its a strong resistance level. due to this we expecting a higher demand zone at that level
@131.435 its the current level we are at as per now. We've encountered a minor resistance which we expect the bulls to push the prices higher to the levels around the Main Resistance level around 134-137s. Once the the pair has tested the resistance we enter a sell to the 123s