The faded green rectangular is a critical zone of buying ! and the pair is currently at the lowest levels of its history !!
two scenarios are expected :-
1- Prices goes below the faded green rectangular then corrects up again to enter its zone to test the selling pressure there , if prices after that test went down the faded green rectangular , then a possible bearish move is expected within the red downside channel
2- Prices goes up the faded green rectangular then corrects down again to enter its zone to test the buying pressure there , if prices after that test went up the faded green rectangular , then a possible bullish move is expected and a a long term bullish move will be confirmed by the breakout of the red downside channel to the up side
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MohamedMagdy
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MohamedMagdy
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Daily chart shows rsi divergence which expects a bullish move may soon