Here's my updated view on this pair. I am currently off positions and waiting a confirmation to go long.
The green horizontal line comes from the previous low and should act as a strong support. Next support area is located at 1.1118 so if we do not bounce sharply at 1.11683 we could have a surprise and find the reversal just a bit lower. So make sure you place your short covering at the right place.
I have placed my automatic orders at 1.1170 and will keep adding longs in different stakes. Will trigger my SL (partial hedge) below 1.11.
Worst case scenario for bulls could be 1.07, therefore make sure you leave nothing unplanned.
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