Moved to the top of a channel.
Testing the 1.2950 area
Clear divergence between the price action making higher highs, whilst RSI and MACD are making lower highs.
Oversold on the daily chart, at levels last seen December 2019.
Expecting at least a 50% retracement on the Fib.
Potential double bottom chart pattern formed on a key resistance line (pink).
Price has pulled back after breaking out.
Look to add position on reversal of pullback.
Bullish divergence shown on the RSI indicator
Testing key support line at 1.06964 (pink line).
Price moving in a downward channel.
Price may rebound off the bottom of the channel.
RSI is showing currency is edging towards oversold.
Possible trend reversal from the key support.
Look for confirmation from higher volume.
Also look for EMA 4 to cross EMA 9 upwards for extra confirmation.
Key resistance line at 112.111.
Price moving in an upwards channel.
Look for price to rebound off the key resistance level on higher volume.
Buy point 112.100
Take profit 109.500 (2.32%)
Stop loss 113.050 (0.85%)