It seems last move is an ABC corrective structure and could finish near 1.1500
Right now price is testing broken neckline, a nice opportunity to enter short or add positions.
Next strong support is neart 1.1500 shown on chart for this reasons:
- Projected ABC structure (blue line)
- EMA 200 as support
- near round level 1.1500
- 0.38 fib retracement of wave 3
- base channel as support
We could enter short here and then be prepared to buy near 1.1500 depending on price action.
Best regards
Right now price is testing broken neckline, a nice opportunity to enter short or add positions.
Next strong support is neart 1.1500 shown on chart for this reasons:
- Projected ABC structure (blue line)
- EMA 200 as support
- near round level 1.1500
- 0.38 fib retracement of wave 3
- base channel as support
We could enter short here and then be prepared to buy near 1.1500 depending on price action.
Best regards