I believe the pair will continue its decline and i will look for bearish setups. One way to join is after a double cycle up on the H1 chart. The idea is very simple, wait for the price to reach the trend line and look for bearish triggers (divergence, false break, candle pattern etc)
Technical Analysis:
H4 – bearish convergence, trend line
Entry:
H1 – double wave up to the sell zone as shown in the screenshot below than look for sell triggers. Keep in mind there is also a possibility for divergence to form (bearish one) which will give us extra confirmation for this setup.
Targets: Aim to collect first part around 0.7960-40 zone, and let the other part run
When Being Right Becomes More Important Than Making Money Every Forex trader wants to make…
Why Doesn't a Strong Economy Always Have a Strong Currency? Imagine that a country reports…
Have you ever opened your trading platform, watched the market move, and felt that you…
Employment data is one of the most important economic indicators in Forex fundamental analysis. It…
Welcome back to our weekly Forex forecast at Home Trader Club. This week, we are…
GDP growth is one of the most important indicators of economic health. But does stronger…