When we look at the market structure we can see that a double top formed and the pair went down and tested the 0.938 support zone and created a double bottom.
If this pair breaks the 61.8% Fibonacci zone(indicated by black line) we can expect this pair to go up and test the next resistance at the 0.942 zone and the 50 EMA line.
The pair created a higher low,if it makes a higher high the pair can divert and start going up
The RSI shows this pair is still oversold and it might be time for bulls to step in.
WE ALWAYS SHOULD WAIT FOR CONFIRMATION BEFORE ENTERING A TRADE
Please leave a like and feel free to comment your expectations on this pair.
If this pair breaks the 61.8% Fibonacci zone(indicated by black line) we can expect this pair to go up and test the next resistance at the 0.942 zone and the 50 EMA line.
The pair created a higher low,if it makes a higher high the pair can divert and start going up
The RSI shows this pair is still oversold and it might be time for bulls to step in.
WE ALWAYS SHOULD WAIT FOR CONFIRMATION BEFORE ENTERING A TRADE
Please leave a like and feel free to comment your expectations on this pair.
Trade active:
In profit so far🍻🍻
Trade closed manually:
I made good profit, I bought at 0. 93806 and closing now @ 0.93946 : 140 pips 💵💵💵