-As you can see, the pair is having trouble breaking below a major demand area at 1.6800 , which isn’t surprising since it lines up with a 38.2% Fibonacci retracement, with RSI almost hitting oversold levels.
-Based on the long wicks below the area, it looks like forex bulls are defending the support very well, Not only that, but a bullish divergence has also popped up to reinforce a bullish trade!
-Buying at current levels could still get you a pretty sweet deal especially if you aim for the previous highs near 1.6980
-n any case, just make sure to practice proper risk management, a’ight?
-Based on the long wicks below the area, it looks like forex bulls are defending the support very well, Not only that, but a bullish divergence has also popped up to reinforce a bullish trade!
-Buying at current levels could still get you a pretty sweet deal especially if you aim for the previous highs near 1.6980
-n any case, just make sure to practice proper risk management, a’ight?
