We can see double top which stopped bullish movement with candle with long wick. I marked 2 GAP's which are respected by market in some way. The bottom one is clearly respected by market and gave nice push for the pair to move higher.
I decide to put many arrows on the chart:)
I would suspected that the pair will try to rebound from these 3 levels. In my opinion the most probable is that the pair will move higher after it will find support around bottom GAP. It is also quite possible that the pair will create double bottom.
I will be looking for the 0.0045 or something close to that as TP.
So according to your TA arrows indicate price should go downwards for a week or so then go up for the next month? Or will it happen faster.I'm new to trading and wondering if my guess on timeframe is correct.Would appreciate your response.
Hey I can't predict time, that's for sure. There are three levels which could create support and move pair higher. First GAP the second one and the last lowest low. I don't know when they will be reached and what what market will decide if that level will be reached.If this is not clear at ALL ask me again.
@Meraz, I will be watching this pair so I will update this idea if something interesting will happen. These arrows is not indicator or anything just visual interpretations of what I think may happen.