Price could go to the 1.7475 - 1.7600 area completing a gartley pattern, giving us the opportunity to short. First target would be at the trendline and second target would be at 1.656
- EMAs crossed suggesting bullish bias;
- Price getting out of volatility channel (upside)
- Rebound from the 50% retracement;
- Robust weekly candle;
- Possible ABCD pattern before any sign of reversal;
- Stoch is not losing pressure yet.
Potencial AB = CD pattern might be forming on the daily chart, giving us a 8:1 Reward to Risk ratio, which is nice.
- Support @ 8.00
- 38.2% Fib Level
- Black MA acting as Support