Long-term if we look at the daily structure, I think the pair is going down to 0.82-0.84.
I don`t usually trade counter-trend moves but, this one here looks rather attractive for a short-term buy. As I see it, the price is consolidating in a flat (possible an expanding flat), and if my analysis is correct, we have to go up for a C wave.
I will open my position at market price with a tiny stop and with a minimum target of 100 pips at 0.89 and the second target at 0.8980. You never know how far the correction might go, so I am not sure it will reach the second target, but reaching the first one is very very probable if structure behaves as projected.
I don`t usually trade counter-trend moves but, this one here looks rather attractive for a short-term buy. As I see it, the price is consolidating in a flat (possible an expanding flat), and if my analysis is correct, we have to go up for a C wave.
I will open my position at market price with a tiny stop and with a minimum target of 100 pips at 0.89 and the second target at 0.8980. You never know how far the correction might go, so I am not sure it will reach the second target, but reaching the first one is very very probable if structure behaves as projected.