An initial test of the 0.7091 - 0.6535 range has taken place. This test could mean a temporary relief of the downward pressure. Now with this in mind i see a few opportunities to trade this pair.
The first one is a so called 2618 setup. For those aggresive C to D pattern traders, the 0.618 retracement at 0.7073 could be a turning point to go long.
The second one is a bearish bat pattern which completes at 0.7267. From a risk to reward point of view this setup couldn't be better. Also, there is still a lot of room to cover to the downside.
The first one is a so called 2618 setup. For those aggresive C to D pattern traders, the 0.618 retracement at 0.7073 could be a turning point to go long.
The second one is a bearish bat pattern which completes at 0.7267. From a risk to reward point of view this setup couldn't be better. Also, there is still a lot of room to cover to the downside.
