prevailing trend has been exhausted and expecting to continue further as there is no visible strong bearish momentum formed so far, if the price broke above 0.7892 support firmly, a long call would prevail up to 0.8082 level with a RR of 1:16 and 103 pips straightly . be alert on the 0.7892 level
if the price break 0.6944 level, there will be potential long opportunity to 0.7049 (105.5 pips) or and 0.7117 (173 pips) during the week.
so be alret on the level 0.6944
BB MA break and hovering above MA
Faded trend - reversal
if the prevailing candle could break and ended the level 113.606 (with a strong body)1 it will be a short option as per my analysis. It also already broke the support level at 113.6043. first I target a TP to 113.1195 with a RR of 1:1 and further expecting to 112.8581 if the fading momentum could hold its reversal, RSI divergence also confined me to go for short
Watch the support break level at 0.7634 upon the strong trend formation unless the concurrent retracemet do not cross over BB MA. based on the previous supply zones i'm expecting the pair to reach 0.7522 with a RR of 1:5
fundamentals are ignored.
Amidst there were couple of retracement (arrow down) on the prevailing uptrend could continue further by making its higher highs. My analysis suggest to go long, with 1:2 RR
Support line at 0.9973
Fibonacci ext provides TP level same level at the supply zone
This chart emphasizes the power of double tops and double bottoms and then how market reversal works, second, how it is important to adjust your stop loss according to the market trend, there were two false breakouts upon the two resistance levels with massive lower bearish candles, this is why you should either exit before the resistance price level or take some...