The Pair is posed to retrace at 0.618 at 120.00 level. The previous resistance of 115.580 will now act as support to pull back pair to 120.00 level initially and then to 122.033.
The pair is showing upward movement with spike in volume and strong trend line support at 0.69130. It is heading toward 0.72500 which has again trendline resistence at arroung 0.72500 forming a Gartley Pattern.
The pair shows down candle only to consolidate at around 1.057. If the pair doesn't violate 1.05560 level then we should see an uptrend towards 1.08 level. Good Risk Reward Ratio.
Daily chart showing strong support at 1.06 level having trend line's third point not violating till now. With Stoch RSI is set to move above 80 the pair is looking to bounce to 1.08 level before trending to downwards. If it move upwards from current level the pair may form Head and Should Pattern. It has good risk to reward ratio at present The 1.057 is key...
Monthly chart show, Cypher pattern to complete at 0.94 level at 0.786 retracement level. It also shows that we are in last leg of wave 5 which will take support at around 0.94 level, with stoch RSI trending downwards, the pair looks bearish.
