Based on my chart analysis it goes down from 1.2750: TP 1.24 and SL 1.2840.
Comment:
What is the next?
Comment:
TP changed to 1.25100 due to the potential of forming a new pattern.
Comment:
One more sell opened at 1.2610 for 200 pips profit and with very tight SL. Lets see!
Comment:
Let's update the chart and see what happened after we got the fundamental data.
The price is in the consolidation phase and channel formation stage. Since this parallel channel or rectangle is considered a continuation pattern, the downward trend is expected to continue after the channel break. Lets see what will happen.
The price is in the consolidation phase and channel formation stage. Since this parallel channel or rectangle is considered a continuation pattern, the downward trend is expected to continue after the channel break. Lets see what will happen.
Trade closed manually:
Closed manually at 1.2490