Good Day Traders !! On this pair we have a very strong impulse to the upside made during the past week as we expected, now the market started a nice correction to the 0.382 Fib level. for such a strong impulse we expect the market to retrace at least to the 0.5 Fib level which aligns perfectly with a strong support area and demand. We will be monitoring price action on the 4H timeframe when the market reaches this area in order to place a nice long setup with a 1/5 RR so we can ride the continuation of the impulse to the upside.
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If you have a different opinion make sure to leave a comment in the area below for further insights about this pair.
Trade safe !!!
Now if you enjoyed this analysis make sure to like and share. I will be linking the previous analysis of this pair in the comment area below.
If you have a different opinion make sure to leave a comment in the area below for further insights about this pair.
Trade safe !!!
