Price nears an important level of support on the daily chart.
1.0780 will be the zone that we will be looking for a trade opportunity.
When we switch to lower time-frame as H1, we see the price also nears an H1 psychological support level 1.0800
Break below 1.0800 - 1.0780 is expected to be a continuation move of the monthly bearish breakout.
If price retraces back above 1.0875 will be a sign for stronger bullish pressure up to 1.1200 - 1.1240 levels.
Short-term Trade Idea:
Sell below 1.0800 on H1 close with targets of 1.0780, 1.0550
Buy above 1.0825 on M15 close with targets of 1.0870, 1.0950
Min-term Trade Idea:
Sell below 1.0780 on Daily close with targets of 1.0550
Buy above 1.0880 on Daily close with targets of 1.0950, 1.1100, 1.1200
1.0780 will be the zone that we will be looking for a trade opportunity.
When we switch to lower time-frame as H1, we see the price also nears an H1 psychological support level 1.0800
Break below 1.0800 - 1.0780 is expected to be a continuation move of the monthly bearish breakout.
If price retraces back above 1.0875 will be a sign for stronger bullish pressure up to 1.1200 - 1.1240 levels.
Short-term Trade Idea:
Sell below 1.0800 on H1 close with targets of 1.0780, 1.0550
Buy above 1.0825 on M15 close with targets of 1.0870, 1.0950
Min-term Trade Idea:
Sell below 1.0780 on Daily close with targets of 1.0550
Buy above 1.0880 on Daily close with targets of 1.0950, 1.1100, 1.1200