Price has reached a key area of previous structure now retested as new support rejecting off the previous higher low of the current uptrend. There are also 2 alignments of fibonacci in this key region, & this upcoming week I am anticipating for price to resume the uptrend for a higher high into the key trend line resistance above, which aligns with major resistance as well looking left.
Kommentar:
4 hour timeframe: Same pattern as before, an indecision candle at the key structure zone along with multiple rejections & an engulfing candle. A break above the last 4 hour high & we could see a good entry point to swing this pair higher again.
Kommentar:
30 minute timeframe: We can wait for a break & retest scenario of the resistance region to the upside for intraday setup up into the first resistance for over 150 pips.