Price is at an important area of support on the weekly chart, I anticipate price to bounce off this area of support and head in an upwards trajectory for a bullish movement.
On the 4H chart we see that a new ascending channel can form and as such, I expect the pair to trade within this channel. Retest appears to have been completed.
A great potential swing trade setup with lots of pips for the taking.
Risk-reward ratio: 1:6.08
SL: 77.791 (-56 pip risk)
TP1: 79.553
TP2: 80.774
TP3: 81.754
It should be an interesting setup for the next week if it plays out accordingly.
Share your thoughts and analysis in the comment section below.
On the 4H chart we see that a new ascending channel can form and as such, I expect the pair to trade within this channel. Retest appears to have been completed.
A great potential swing trade setup with lots of pips for the taking.
Risk-reward ratio: 1:6.08
SL: 77.791 (-56 pip risk)
TP1: 79.553
TP2: 80.774
TP3: 81.754
It should be an interesting setup for the next week if it plays out accordingly.
Share your thoughts and analysis in the comment section below.
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