03.10.2019
Analysis based on round-number levels, price channels and modified Elliot Waves
The support level of 1.2150 holds back sellers. The inclined channel of the downward pattern is broken through by an upward movement (A H2), after which the price rolled back into the range of 135 and 365 moving averages. The breakout of the round secondary level 1.2320 will result the formation of an upward structure of the H2 level within the wave with an upward structure of the D1 level.
Trading ideas:
Buy above the round secondary level 1.2320.
Stop loss under the support level 1.2150.
Target levels – 1.2420; 1.2650.
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