Here is a potential short, we should see the price move towards the newley created downwards trendline, price may respect the trendline sending price down to 61.80% and my entry level, however price may break downwards trend and move towards and test 78.60%, we hopefully should see a bounce off 78.60% resistence moving price action towards my entry level. I will...
Break out of the possitive trendline, hopefully will see negative price movement to 1.11450 if this target is reached then there is a posssibility that the pair could hit 1.08239.... I'm going short with this and entering at 1.134 good luck!
Price action is respecting the downwards trend channel, price will then hopefully follow the tempory uptrend until it hits the channel's resistence, if this target area gets reached then we will see bearish movement towards the target if all goes to plan!! Plenty of pips up for grabs :) What do you think?
Possible short opportunity if the upwards trend line/ Support is tested & broke however the pair does have the potential for a long position if downwards TL is broke which could see the price move towards 113.5 but we shall wait and see :)
Potential long entry: 112.4
Potential Short entry: 112.0