. While the price is above the support 1.3430, beginning of uptrend is expected.
. We make sure when the resistance at 1.3754 breaks.
. If the support at 1.3430 is broken, the short-term forecast -beginning of uptrend- will be invalid.
. The RSI downtrend #1 is broken, so the probability of beginning of uptrend is...
Eliott Wave Theory ✅
To play the trade safe 'Target 1 can be set to the previous resistance' 1.95530
Target 2 can be lower to complete a lower low (could be 1.272 fib)
Clean Charts always! 🦈
GAUD could provide a nice short setup this week, I do expect GA to rise this week with the first test being the 1.81 psych level which confluences nicely with the 78.6 fib level, I will look for price action confirmation at this region to short but with a lot of caution as the volatility of this pair can easily drive price up to 1.82 for a final test, of 1.82 is...