Break of bearish trend line, with a solid retest last week.
Price is currently consolidating at the 61.8% fib retracement level with multiple pin bar rejections being show on the 4 hour.
Overall in a HH, HL bullish run.
Great risk reward
We’ve seen a 100 pip consolidation range for the majority of this week, price broke the bullish trend line mid-august dropping down to 140.00. We’ve seen a retest of the bottom side of that trend line over the course of this week which is the 142.50 mark (its held firm) we are now also seeing the start of a new bearish trend line created from the last 147.50 hit...
111.60 (38.2%) a close above this level would have me going long. Weekly High 111.50 has acted as a resistance line. Lot of news coming out tomorrow 31/03 that will ultimately determine the direction. 111.10 (61.8%) is my short level. ATR on the pair is 60 pips