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Initiate Short.
Entry - 1.1143 (slightly below local support)
TP1 - 1.10920 (Horizontal Support)
TP2 - 1.10670 (Pivot Support 1)
SL - 1.11620 (Slightly above Channel's resistance)
Reason: The price was rejected by descending channel's resistance, also the price was not able to hit Pivot Resistance 1. The price is expected to go below to descending channel support and also Pivot Support.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.
Initiate Short.
Entry - 1.1143 (slightly below local support)
TP1 - 1.10920 (Horizontal Support)
TP2 - 1.10670 (Pivot Support 1)
SL - 1.11620 (Slightly above Channel's resistance)
Reason: The price was rejected by descending channel's resistance, also the price was not able to hit Pivot Resistance 1. The price is expected to go below to descending channel support and also Pivot Support.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.