On the weekly time frame the pair has been in an uptrend over the past few months, with a series of Higher Highs and Higher Lows. But the market is showing signs that the buyers are not pushing price any higher, this is noticed by an emerging downtrend, indicated by the formation of a Lower High at the 1.3560 price area. The uptrend has not yet ended but could it be coming to an end?
Currently, price has reached the weekly Higher Low at 1.3060, if the region is broken; it will symbolize the beginning of the weekly downtrend. The possible first target on the weekly time frame, after the break of the Higher Low is 1.2460, where potential retracement may occur. But for now the bulls are still holding on to their direction. Where do you think this market is going?
We will be watching for price action on the lower times frame for potential setups that we will be posting on our idea page, follow so we can continue sharing.
Currently, price has reached the weekly Higher Low at 1.3060, if the region is broken; it will symbolize the beginning of the weekly downtrend. The possible first target on the weekly time frame, after the break of the Higher Low is 1.2460, where potential retracement may occur. But for now the bulls are still holding on to their direction. Where do you think this market is going?
We will be watching for price action on the lower times frame for potential setups that we will be posting on our idea page, follow so we can continue sharing.
Trade closed: target reached
Comment:
wrong comment no trade active