Monthly - 1.43 is a very important structural balance line and we're knocking at it's door.
Weekly - big sell off that did not break structure and created a double bottom.
Daily - Price is at the last higher low of current swing (Mar 20 - NOW) - very important structure.
The odds are with the buyers here.
Target - ABCD pattern on the daily suggests a maximum possible longer term 4th target. Target 1is realistic
Optimal entry is around the 1.37 mark but it may not get there - there is a double bottom at 1.38 and we're fast approaching it now.
We could go LONG now with a small stop.
There may be a bear trap and we fail - if so, we could try one time at the 1.37 mark with another small stop.
View whole swing here (Mar 20 - Now)
Weekly - big sell off that did not break structure and created a double bottom.
Daily - Price is at the last higher low of current swing (Mar 20 - NOW) - very important structure.
The odds are with the buyers here.
Target - ABCD pattern on the daily suggests a maximum possible longer term 4th target. Target 1is realistic
Optimal entry is around the 1.37 mark but it may not get there - there is a double bottom at 1.38 and we're fast approaching it now.
We could go LONG now with a small stop.
There may be a bear trap and we fail - if so, we could try one time at the 1.37 mark with another small stop.
View whole swing here (Mar 20 - Now)