Hi Traders,
The higher timeframes of this pair indicates downtrend, so we are looking for short positions. A good and safe trade setup would be to enter a short position when price close below the highlighted zone (122.892 - 122.795). If the breakout candle touches or breaks the 122.696 levels (Yellow) its better to wait for a retracement candle. The target can be either 10 - 20 pips, but we have a good support at 122.576 levels (Red).
For queries pls comment below and do like and follow...
Happy Trading