Main phase reversal trade.
1. Price has been ranging and testing the strong horizontal support level at around 0.9700. Triple bottom.
2. MACD divergence has formed on the daily timeframe as well as H4 so there are signs for potential reversal.
3. Current price is also at a long term uptrendline which started SEP '15. This intersects with horizontal level.
4. Enter in on reversal price action.
1. Price has been ranging and testing the strong horizontal support level at around 0.9700. Triple bottom.
2. MACD divergence has formed on the daily timeframe as well as H4 so there are signs for potential reversal.
3. Current price is also at a long term uptrendline which started SEP '15. This intersects with horizontal level.
4. Enter in on reversal price action.