If the S/R in 4H can hold and I'd see a good price action to sell, I'd take it to Daily Fib Level 0.5 | Trend-Based Fib Extension 0.618. If that could break that level/price, I'd extend up to 0.90ish price.
Though this might just be a corrective move, might be able to take profit from this. Just trying to trade on overbought for a temporary move lower to S/R for me.
It's kind of aggressive to enter this at current level, I was looking into buying into dips, after I made some sell trade last week. At the Fib level on my chart, it can move lower and again look for any dips to take the trade.
A further upside can be expected though I prefer to buy into dips close to the Fib level on my chart. I see it would be poor to call a buy on current level. On W timeframe, there's a double bottom structure, I'd say held a strong support.
With uncertainty on the market, I'd wait for a good confirmation despite there's a bearish candle close at 4H timeframe. I'm still looking to buy into dips with Fib level at 50% mining up a pretty good support.
I'm bullish on USD at the moment, I'd wait for a break on the trendline in 1H/4h timeframe or wait for a good price action before I'll enter a trade on this pair. I'd have a short term target on 115ish to 116ish, give or take.
