Price is currently testing the multiple tested S/R SD trend line.
- Now if price breaches below this level we can see further downside momentum to potential target 1.11750. We may encounter a break below retest then bearish confirmation.
- If price breaks below the lower channel line with demonstration of bearish momentum and PA then we will be going short to our next “Potential Target” 1.10500. (Careful on this pair due to the EU Referendum/)
We have a possible bearish harmonic pattern forming; if we begin to see bullish momentum around 1.11750-1.11650 then we can look to enter long positions to our potential targets of 1.1400 then 1.15850.
- To be on the safest side to enter long positions for the bigger move up to “D” we must enter on the break above the descending trend line from “X” to “B”.
- Traders can enter long from the lower channel line where stated but have management levels around 1.12500 as the market can change around this level.
AS EXPLAINED THIS IS JUST AN FORECAST; WE JUST NOW FOLLOW WHAT THE MARKET DEMONSTRATES THROUGH PRICE ACTION; INDIVIDUALS ON MY ANALYSIS SERVICE HAVE FURTHER IN DEPTH ANALYSIS BROKEN DOWN INTO THE LOWER TIME FRAMES WHERE TRADE SETUPS WILL BE PROVIDED... TRADE AT OWN RISK
- Now if price breaches below this level we can see further downside momentum to potential target 1.11750. We may encounter a break below retest then bearish confirmation.
- If price breaks below the lower channel line with demonstration of bearish momentum and PA then we will be going short to our next “Potential Target” 1.10500. (Careful on this pair due to the EU Referendum/)
We have a possible bearish harmonic pattern forming; if we begin to see bullish momentum around 1.11750-1.11650 then we can look to enter long positions to our potential targets of 1.1400 then 1.15850.
- To be on the safest side to enter long positions for the bigger move up to “D” we must enter on the break above the descending trend line from “X” to “B”.
- Traders can enter long from the lower channel line where stated but have management levels around 1.12500 as the market can change around this level.
AS EXPLAINED THIS IS JUST AN FORECAST; WE JUST NOW FOLLOW WHAT THE MARKET DEMONSTRATES THROUGH PRICE ACTION; INDIVIDUALS ON MY ANALYSIS SERVICE HAVE FURTHER IN DEPTH ANALYSIS BROKEN DOWN INTO THE LOWER TIME FRAMES WHERE TRADE SETUPS WILL BE PROVIDED... TRADE AT OWN RISK