1.16200 is a strong psychological support level for me, it was resistance in October 2018, and now it is acting as a strong support level since September 2020. The price might come back to the Support Zone of 1.16300 - 1.16030.
Overall, I’m looking only for short opportunities in this pair.
Considering the lower timeframes (1HR & 4Hr), I’m waiting until the price breaks the 1.17990 - 1.18050 zone and retest the area of 1.18340 - 1.18450, after getting a rejection confirmation I’m targeting the 1.16300 - 1.16030 support zone in the long run, in the short term my target level will be somewhere around 1.7100
Need to re-evaluate the analysis after the market opens on Monday.
Nothing is 100% accurate, only possibilities.
Please criticize and share your ideas.
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