I believe this pair is going lower. It has all technical reasons to do so and i’m now closely following it. Weekly chart is under bearish pressure because of the bearish divergence which is a pretty strong confirmation. My plan is to follow the pair on the intra-day charts for an enty. Here it is:
Technical Analysis:
W1 – Bearish divergence
H4 – Potential double wave down
H1 – Double wave down completed
Entry:
M15 – Follow the M15 chart for a double wave up close to 123.30 – 123.60 zone. From this zone look for sell opportunities versus the last high around 124.50
Target 1: 122.70
Target 2: 121.60
Stop Loss: above 124.50
Video Explanation:
