This is inline with the USD index (DXY) showing a potential reversal point.
Place a sell limit below the current support.
Once this is breach, a potential leg D can happen.
Enter at 1.07175
SL at recent high 1.0747
TP at various level of Fb. Ultimately aim to reach 1.05668.
USD index show a high potential reversal pattern. Current index value sits nicely in the 61.8% Fb level . Keep an eye at this level for the coming days / early next week to confirm this level becomes the support level.
It looks like Gartley formation has just completed.
I will wait for the 4 hr candle stick to close before enter trade.
Enter SL below X with 85.80
TP1 = @0.382% = 86.316
TP 2 = @0.618% = 86.541
The recent high (weekly view) is the third lower high in recently weeks since 2016.
MFI is in the overbought region and pointing downwards and about to cross below 80.
The overall picture since ~1 year, the price is moving side way (up and down). Current level belongs to upper side of the spectrum, and all sign shows this pair is weaken .
May enter at current...
