Price has been moving in a bearish structure with the series of lower highs and lower lows, price is now at an existing clean low where the selling pressure is expected to run out. Buy orders will be built at the equal low with stops just below the region but with a liquidity block resting just 50 pips below the zone, a couple of buy orders are expected to be liquidated as the market makers run a couple of stops to take retail traders and build liquidity. A more precise zone to go bullish on the pair is the 1.3612.
The move is expected to take out the current high at 1.3903 and go all the way to 1.4002 while giving around 385 pips in return.
The move is expected to take out the current high at 1.3903 and go all the way to 1.4002 while giving around 385 pips in return.