Good morning traders!
Check back to last week where we predicted a break of structure on the pair. Well, we've seen that.
Look at price now respecting and finding support at our already marked key level in the market. With bears looking pretty strong will we see a break of this level and further movement to the downside this week?
Look closely, and you can see our ascending trendline has been used as dynamic resistance. Price broke the line to the downside, came back to retest the line before falling. This is a great bearish confirmation to enter a long term short position.
Happy Trading!
Check back to last week where we predicted a break of structure on the pair. Well, we've seen that.
Look at price now respecting and finding support at our already marked key level in the market. With bears looking pretty strong will we see a break of this level and further movement to the downside this week?
Look closely, and you can see our ascending trendline has been used as dynamic resistance. Price broke the line to the downside, came back to retest the line before falling. This is a great bearish confirmation to enter a long term short position.
Happy Trading!
