Break and re-test of key S/R zone on the daily along with the matching of the 61.8 Fibonacci retracement from the recent impulse move downwards. We are looking to short this pair once we have confirmation that the zone and the trendline are respected. Caution if looking to trade this pair due to the FOMC meeting taking place this week which is known to have a massive impact on the USD pairs.
Trade closed: target reached:
The final TP has been hit which means a movement of 200 pips was caught and the wave has been completed according to my analysis. Congratulations to anyone who took this idea.