Pair is still in pretty obvious bearish trend and i think it is best to sell rallies as long as the last swing high around 0.7400 holds. Technically the pair has all reasons to push lower to the 0.7200 – 0.7150 zone. That would mean bearish wave duplication which also coincides with a strong supportive zone and bollinger band duplication. Ideally we want to see the levels mentioned above before looking for buy opportunities.
Technical Analysis:
D1/H4 – potential bearish wave duplication
Entry:
H1 – Wait for double wave corrections and look for a sell. Preferably with hidden bearish divergence to form. Keep in mind that last swing high around 0.7400 must hold for this scenario to be valid.
Target 1: 0.7300
Target 2: 0.7200
Stop Loss: above 0.74
Video Explanation:
Yours,
Vladimir
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