05.09.2019
Analysis based on round-number levels, price channels and modified Elliot Waves
Important round-number level 0.9800 held back sellers. The downward sloping channel is breached by the formation of Fractal Start above the 365-day moving average (0.9843). A breach of the fractal start will result in an upwards wave pattern on level M30 as part of another wave pattern (C) on level H12.
Trading recommendations:
Buy above 0.9843.
Stop Loss at 0.9800.
Target levels – 0.9920; 0.9950.
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