4HR close with 20 & 50 MA cross whilst showing strong support.
4HR close with 100MA bullish support.
4HR breakout candle is 28% surplus of ATR showing relatively strong break of resistance.
If break of resistance, I expect a retest to show new support of previous resistance levels before entering.
My first TP will be in the area of 1.09652.
Second TP will be in...
In the longer term I can see this pair being bearish but for this week i believe it will be bullish.
Last time it dropped to the level around 2.0052 it showed a strong support rebounding up in to the 2.079 levels. Since then it has had a severe decline back to the previous level of around 2.0052.
Key indicators to help with this retracement is that it is oversold...
