Prices are forming a rising wedge on the weekly time chart
Prices have broken the bottom trend line of the rising wedge.
Possible 2 scenarios are prices pullback to a descending trend line formed on the 4H chart then price fall to the 1.78000 support level
The other scenario is prices fall directly to the 1.78 support zone WITHOUT a pullback to the trend...
Prices are currently in downfall
Major Support at 1.6100
If prices continue to consolidate at the 1.65000 I am anticipated that prices will move up towards the 1.8000 level
Also, the Stoch is in the overbought zone which is another indication that prices will reverse soon.
However, If prices break the trend line and fall towards the major resistance level then...
Market is in consolidation forming a symmetrical triangle with higher lows and lower highs
Market Entry 113.100
Target one is at the minor resistance 114.00
If the price break the minor resistance at 114.400 we can witness an uptrend up to 118.00