In Friday trading, we could see the first break of the moving average in a long time. Additionally that Friday close was very , indicating that further downside is definitely possible after the Monday open. Of course, we can see RSI divergence on the trend reversal and when measuring trend exhaustion with Fibonacci levels, the top reaches the 200% extension level, all adding confluence to this setup.
A Monday open would make me interested in taking a partial position. However, I would like to see the pair going a bit lower and close towards the 0.87300 area, before taking a full position on this setup. That way, some of the local support will have been broken and the way down will be less obstructed by previous trend structures.
This and other setups are described on my website, where you can find my weekly forex outlook.
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Good luck trading,
Don't let FOMO (fear of missing out) you into taking a position too early. On daily setups like this, there's always plenty of time to take a position once the market confirms our idea. We let the market come to us, not the other way around.