Hello traders!
After a huge drop and a fake break of Buy Zone at 1.15530, the pair started to gain momentum. The 0.5 FIB Level proved to be a significant level after the price struggled there and fell to 0.38 FIB Level. I believe that the price will now reach 0.61 Fib Level or enter the blue supply zone. A short position is appropriate there if we see a confirmation and price action. I am going to put my SL past the 0.78 Fib Level and the TP1 to 0.5 and TP2 to 0.38 Fib Levels.
After a huge drop and a fake break of Buy Zone at 1.15530, the pair started to gain momentum. The 0.5 FIB Level proved to be a significant level after the price struggled there and fell to 0.38 FIB Level. I believe that the price will now reach 0.61 Fib Level or enter the blue supply zone. A short position is appropriate there if we see a confirmation and price action. I am going to put my SL past the 0.78 Fib Level and the TP1 to 0.5 and TP2 to 0.38 Fib Levels.