Last Friday's candle showed us a clean rejection off the 161.8% fib level. However, we have yet to see any form of confirming candle. Today's candle is a neutral candle for us as we managed to see a lower opening but BULLISH movement today. Although there is not much confirmation on this pair, I will be eyeing on a fakeout from 1.2323 resistance level. Today's neutral candle might also signifies that a fakeout is valid as we did not managed to see a clear breakout to the upside. As of now, I am leaning towards a BEARISH retracement for this pair.
Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!