My Long term view on this cable is buy. We are currently in a good place to look for buys.
Bullish Scenario:
Triple Cycle with Bullish divergence formed followed by False break.
Until the last low holds we can expect the price to move up as the break below 1.2630 level was powerfully rejected.
Bearish Scenario:
I will be keeping an eye on the Daily uptrend line around 1.24-1.25. As it is still possible to see the price going down.
If the current support doesn't holds, then we can look for sells only if we get confirmation and signals from the strategy that we use. Until then don't open a buy or sell trade.
We can look for buys as long as last low at 1.2580 holds.
Bullish Scenario:
Triple Cycle with Bullish divergence formed followed by False break.
Until the last low holds we can expect the price to move up as the break below 1.2630 level was powerfully rejected.
Bearish Scenario:
I will be keeping an eye on the Daily uptrend line around 1.24-1.25. As it is still possible to see the price going down.
If the current support doesn't holds, then we can look for sells only if we get confirmation and signals from the strategy that we use. Until then don't open a buy or sell trade.
We can look for buys as long as last low at 1.2580 holds.