Looking to short the EU.
Pair has been trending down as of late, price is at a vital hourly move fib lvl and a strong s/R level is approaching. There has been a sharp breakout of the hourly trendline which caused a steep channel. I expect exhaustion. Experience shows that such channels are hardly sustainable.
Looking for the pair to retrace to the 23.6 fib level or trendline depending on your risk appetite. RSI is also on overbought levels which gives me extra confidence. Stops at 1.06428 TP 1.05756. RR 1:2.
First chart published open to criticism.
Will keep updated. Have a safe weekend and catch you on market open.
Pair has been trending down as of late, price is at a vital hourly move fib lvl and a strong s/R level is approaching. There has been a sharp breakout of the hourly trendline which caused a steep channel. I expect exhaustion. Experience shows that such channels are hardly sustainable.
Looking for the pair to retrace to the 23.6 fib level or trendline depending on your risk appetite. RSI is also on overbought levels which gives me extra confidence. Stops at 1.06428 TP 1.05756. RR 1:2.
First chart published open to criticism.
Will keep updated. Have a safe weekend and catch you on market open.