Currently the pair is finding support at a major level. For a safe entry point off support to avoid unexpected swings I will place a buy stop at 116.500 with a take profit at 117.700. My personal sentiment is for a buy.
On the contrary a significant breach and close out below 116.000 will sentiment towards a 113.800 sell retest.
Given chart pattern if entry rules are followed whether it’s a sell or a buy will result in profit.
My indicators are set for a clear pivot into a buy with RSI making a pivot at the oversold zone and MACD/SIGNAL attempting to fan outside of histogram bins that signal low volume sellers for a cross heading towards 0 line.
Please comment with thoughts and Ideas. Attached is a previous premium price action forecast that was spot on. Thank you.
On the contrary a significant breach and close out below 116.000 will sentiment towards a 113.800 sell retest.
Given chart pattern if entry rules are followed whether it’s a sell or a buy will result in profit.
My indicators are set for a clear pivot into a buy with RSI making a pivot at the oversold zone and MACD/SIGNAL attempting to fan outside of histogram bins that signal low volume sellers for a cross heading towards 0 line.
Please comment with thoughts and Ideas. Attached is a previous premium price action forecast that was spot on. Thank you.
