currency pair got my interest when it reached a strong support area
. On the Weekly time frame we can see that the pair made an extensive uptrend for a few weeks after which it made a correction reaching exactly to the top of the consolidation area in which the price was before the uptrend started. This area can now act as a strong support area
from which the price to continue its’ uptrend reaching either a little bit below the previous top or to it – maybe even more if we are lucky. The plan is made on the H4 time frame and will be traded on the M30 time frame. I have devided the whole area in to two Buy Zones due to a possible area of resistance which might stop the initial movement up.
Below you can find the Buy Zones expressed as numbers and on Twitter you can find Live Signals based on this plan.
Buy Zone 1:
0.7070 to 0.7180
Buy Zone 2:
0.7105 to 0.7310
There is a possibility of the price moving further down, but if that happens the plan won’t be traded.
I wish everyone good luck in their trading sessions. :)