This has found support at 0.382 Fibonacci. It needs to be monitored from here as it could easily continue downwards towards 0.5 and 0.618 Fib as the current trend is still bearish as can be seen using the MACD and EMA's. If it does drop to these levels then the price will also align with some structure so that would be a good opportunity to long (I did state this in my previous idea on this pair)
On the other hand, if this support continues to hold and we see the environment turn more bullish then a long can be taken to the previous highs of 1.25529. Only look to enter this trade if it turns more bullish using the MACD and EMA's.
On the other hand, if this support continues to hold and we see the environment turn more bullish then a long can be taken to the previous highs of 1.25529. Only look to enter this trade if it turns more bullish using the MACD and EMA's.