Trade what we see:
We see a nice 4hr support line attracting a lot of buyers.
Overall the daily time frame provides a longer term bearish resistance line, which sits above.
I am looking for a break lower and a push through the 50% retracement level, with a TP at the 61.8% level.
The back end of this week is data heavy for the US, so fundamentally we have some extra fuel to drive this pair lower.
We see a nice 4hr support line attracting a lot of buyers.
Overall the daily time frame provides a longer term bearish resistance line, which sits above.
I am looking for a break lower and a push through the 50% retracement level, with a TP at the 61.8% level.
The back end of this week is data heavy for the US, so fundamentally we have some extra fuel to drive this pair lower.