On the M30 time frame, prices are showing bearish order flow with lower highs and lower lows being formed. A pullback to the resistance zone at 1.2180 in line with the graphical resistance zone and 78.6% Fibonacci retracement could present an opportunity to play the drop to the support zone at 1.2100. Stochastic is approaching resistance where we could see further downside in prices.
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.
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.