This pair is in a down trend
Chart below:
Price is making lower highs and lower lows.
Price has retraced to the 23.6% Fibonacci level from the last thrust down.
Price has found a resistance level at 1.5200
Chart below:
On the short term chart price is supported at 1.5065. (RED LINE)
Chart below:
Should price break this level and make a new low on the short term time frame, I will look to enter a short position on the pull back to the support area of 1.5065
If price moves higher then I will wait for the next trade with the trend to be identified.
Levels below:
1st Entry: 1.5065
2nd Entry 1.5065
Averaged entry: 1.5065
Stop Loss: 1.5105
Target 1.4865 (5% & previous support level)
I will update again should the trade be triggered.
Regards
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