4H CHART EXPLANATION:
On this timeframe we observe that this pair was strongly rejected at the Supply level at 69.600, that was the confluence zone between the Descending Channel and the Resistance Zone. At this moment it is consolidating on a corrective structrure that was broke last night, so, we expect a pullback to the broken structure to continue the downside movement. The first target is the Support Zone at 66.700, and if this zone is broken then price has potential to reach lower zones as the Bottom of the Descending channel.
DAILY CHART:
On this timeframe we observe that this pair was strongly rejected at the Supply level at 69.600, that was the confluence zone between the Descending Channel and the Resistance Zone. At this moment it is consolidating on a corrective structrure that was broke last night, so, we expect a pullback to the broken structure to continue the downside movement. The first target is the Support Zone at 66.700, and if this zone is broken then price has potential to reach lower zones as the Bottom of the Descending channel.
DAILY CHART:
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.