1: Head and shoulders Pattern clearly visible on the Daily Chart. Price also created a New Low by breaking the lower high around the area of 108.330
2: Price would need to break the key level of 107.460 - 107.450 area as confirmation.
3: The target will be based on how deep the breakout is.
4: Will take up to two weeks for the pattern to complete before we start looking for entries. This could be during the second week of May 2021.
2: Price would need to break the key level of 107.460 - 107.450 area as confirmation.
3: The target will be based on how deep the breakout is.
4: Will take up to two weeks for the pattern to complete before we start looking for entries. This could be during the second week of May 2021.
Comment:
Trade has failed. Price created a new high on the day chart around the 27th of May. The pair is now bullish. We will be looking for possible trade setups in the next few weeks to come