The pair seems ready to continue it downtrend. After a couple of days of recovery yesterday it printed an inverted hammer closing right at support that has been broken already today.
A fall to the 0.975 area is very plausible and probably it will keep falling until encountering the historical trendline ( purple line). We will monitor how the price reacts once there.
We can see in the 4H chart that the price retraced from the 61.8 fibonacci. The way Im looking to trade is wait for a small retracement to the resistance area and then look for signals to short.
Do you have different views? Let me know in the comments!
A fall to the 0.975 area is very plausible and probably it will keep falling until encountering the historical trendline ( purple line). We will monitor how the price reacts once there.
We can see in the 4H chart that the price retraced from the 61.8 fibonacci. The way Im looking to trade is wait for a small retracement to the resistance area and then look for signals to short.
Do you have different views? Let me know in the comments!