Price is currently showing bearish momentum with the potential to make new lows after price has retarced to the price level at the grey line i have marked which is our entry point
Stop loss - Red price level
Take profit - Green price level
1.05 - key resistance level
1. Daily close above level 1.05 - targeting levels 1.056, 1.063 and 1.078 above it.
2. Close above 1.05 - go to 1.056, then bounce back off 1.05 and up again to 1.063 and possible above it.
3. Bounce of around 1.045 and then close above 1.05
Alternatively bearish daily candle closing below 1.045 and open the way to...