Buy Retracement (Quick counter trend)
While my previous prediction on this pair has been justified, I am expecting a retracement of about 50pips to 61.8 fib before further downfall. Get a clear confirmation at 109.19 area before selling. A break of support/neckline at 108.26 gives way for further decline in price to 106.75 area.
Short Entry: 109.16 ( limit order)
Stop: 109.45 (78.6 fib)
TP: 108.30
Risk: Reward - 1:4
Reasons for current decision: Price at oversold territory
Retest of Support/Resistance is needed for Short Call
0.618 fib is mostly tested
This is only a prediction/. Please trade based on your own analysis.
Short Entry: 109.16 ( limit order)
Stop: 109.45 (78.6 fib)
TP: 108.30
Risk: Reward - 1:4
Reasons for current decision: Price at oversold territory
Retest of Support/Resistance is needed for Short Call
0.618 fib is mostly tested
This is only a prediction/. Please trade based on your own analysis.
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