This pair has been in a down trend on a daily chart.
Chart below:
Price has been in a mid term uptrend for the past month from the double bottom level of 0.7450.
Price has pulled back to 0.7980 the 61.8% Fibonacci level from the last swing move. High of 0.8116 to a low of 0.7450.
Chart below:
The trend line support has been broken and price has made a move through the averages and pivot points.
I am looking to enter a short position on a pull back to the trend line and the averages
Levels and Chart below:
Entry: 0.7910
Stop: 0.7960
Target: 0.7660
I will update later if the trade is triggered.
Best Regards
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