We can see on this pair we are now in a downtrend as we can see the Lower Lows and Lower Highs.
Price made a Double Top formation back in June - August and that Neckline can be copied to project a target.
We have seen a 50% Fibonacci bounce.
200 EMA & 50EMA Crossover.
Break & Retest of Monthly Support at 180.46 on H1 Timeframe.
Target 1 is below Fib D1 at Monthly Support at 175.22.
Potential RR of 1:11 if entered correctly.
Price made a Double Top formation back in June - August and that Neckline can be copied to project a target.
We have seen a 50% Fibonacci bounce.
200 EMA & 50EMA Crossover.
Break & Retest of Monthly Support at 180.46 on H1 Timeframe.
Target 1 is below Fib D1 at Monthly Support at 175.22.
Potential RR of 1:11 if entered correctly.