My previous analysis worked well, on friday price reached the 1220:
So now we should wait for next up correction movement.
1205/1990 area is good for long position.
Price broke support around 77.30. Now it looks like re-test so it's good moment to open shorts with TP 74.60 and SL 77.70.
Weekly chart show us where TP should be. https://www.tradingview.com/x/5Wne6Fdp/
Price formed triangle. Arrow shows stron resistance at 0.9480 - 4 daily candles with long upper shadows. That gives us a chance to open shorts NOW with really great ratio (SL only 50pips with possible TP 700! )
stop loss 0.9490
1st target is 0.9210
2nd target is 0.8710
good luck for eveyrone!
After friday news price reached new height. We can easily notice simple "V" construction. Now we should wait for correction to at least 133.00 and there open buy positions. Best possible buy are is around 132.20 but chances that price gets there are small.
On weekly chart we ...
Previous structure looks almost the same. So I assume that now (based on harmonic structure) price can reach 83.00 level. Our SL is 100 pips below so R:R ration is 5:1 . That's enough for me.
Bounce from trend line and downtrend will remain. So now is the best moment to open short positions with small stop loss (1.1155) .
If price overcome the resistance We can switch to long with 1.2000 target .
As We know curve works often and it's really simple to trading with good R:R ratio.
Chart shows where to put SL and TP.
You can look at my EURAUD analys where perfect curve completed in last week: