Since the pair broke structure to the downside on the Daily time frame, we have fallen off a cliff ...
Going out to the weekly time frame to see where price could be heading or could react i have highlighted the next zone which is the two blue horizontals...
CTS
1. Weekly structure zone
2. Moving into oversold conditions - Weekly
3. Oversold - Daily
4. 1.27 Fib Extension - Daily
5. 1.27 + 1.618 Fib Extension ratio confluence - 1H
6. Double Bottom - 1H
7. Bullish Divergence - 1H
I have highlighted two solid potential risk reward profiles if current price was to hold...
Looking forward to see if it gives anything back or will continue to the downside!
Going out to the weekly time frame to see where price could be heading or could react i have highlighted the next zone which is the two blue horizontals...
CTS
1. Weekly structure zone
2. Moving into oversold conditions - Weekly
3. Oversold - Daily
4. 1.27 Fib Extension - Daily
5. 1.27 + 1.618 Fib Extension ratio confluence - 1H
6. Double Bottom - 1H
7. Bullish Divergence - 1H
I have highlighted two solid potential risk reward profiles if current price was to hold...
Looking forward to see if it gives anything back or will continue to the downside!