17.01.2020
The resistance level of 0.6930 held back buyers. Probably, a multi-candlestick head-and-shoulders reversal pattern is being formed.
The pair is trading in the range of the round important level 0.6900 on the H1 timeframe. The ascending truncated pattern of the H2 level ended with the breakout of the inclined channel. A bearish divergence has formed on Awesome Oscillator indicator. Breaking through the round secondary level 0.6880 will result in the formation of a descending pattern within the wave (C) of the H12 level.
Trading recommendations:
Sell below the round secondary level of 0.6880.
Stop loss for the price pivot zone 0.6930.
Target levels – 0.6850 (close the market and move to breakeven); 0.6782 (138.2% fib from A H12).
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