This pair has been down trending for almost a year, pushing significantly lower after each retracement. The market closed forming a bearish engulfing candle give us indication that the bears are now ready to go again and continue the down trend. Price was also rejected by our monthly resistance giving us further confirmation.
Due to these reasons our anticipated target is the 109.490 area which is our daily support zone.
Due to these reasons our anticipated target is the 109.490 area which is our daily support zone.
Trade closed: target reached:
Took a long time but we finally reached our target Friday, Patience is KEY!!!!!