Strong bearish wave ended at level 1.5117
then corrective bullish wave occurred forming continuation rising wedge pattern
Price rejected from supply zone and 50% Fibonacci level of preceding bearish wave at level 1.5414
then price broke lower edge of rising wedge pattern
Now price is below HVN at level 1.5246 which indicates that pair is in distribution phase
Below SMA 100
MACD shows start of bearish momentum
It's expected to target demand zone at level 1.4940
then corrective bullish wave occurred forming continuation rising wedge pattern
Price rejected from supply zone and 50% Fibonacci level of preceding bearish wave at level 1.5414
then price broke lower edge of rising wedge pattern
Now price is below HVN at level 1.5246 which indicates that pair is in distribution phase
Below SMA 100
MACD shows start of bearish momentum
It's expected to target demand zone at level 1.4940
Trade active
Hit Take Profit (1) +38 pipsTrade active
Running +133 pips
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.