Lookig at the Daily & 4Hr timeframes we can see a strong bullish momentum since the 9th March. We now have a retracement into the 'Golden Pocket' with price appearing to reject the level nicely. I am being mindful on this pair as there is still over an hour until the candle close and price may push lower to test the 50 EMA before continuing the bullish momentum.
I will be aiming for the -27.00% fib on this trade with entry just above the 78.6% aslong as we see confirmaiton in the form of a reversal pattern/candlestick.
I will be aiming for the -27.00% fib on this trade with entry just above the 78.6% aslong as we see confirmaiton in the form of a reversal pattern/candlestick.