This is a strong downtrend but based on my analysis if resistance level is broken and we have a coninuationt toward the top and a bounce of both trend line and the 50% fib , we have a potential long... The first Take profit will 1.012 then my second one will be 1.02
If these conditions are not met I will not place any trade and will not go long.
This is my point...
On the Monthly SUpport level is broken (81.5 and we have a candle confirmation ; candle retesting Trend line; we may have a move toward 80 ; 79 or the next weekly Support are 78.5
I am not an expert just a simple point of view
As soon as the trend line is Broken and Monthly Resistance is Broken I see a potential Bounce from the 50% fib level to the top..
#iamnotanexpertjustmypointofview
