Price currently around a daily/weekly resistance support 1.6000
A trendline break has occurred with slowing momentum, indicating a trend change might be on the way. the 4H and 1H printed a bearish divergence with the RSI, now the 1H trendline and daily pivot are being tested. Entered after ECB interest rate decision around today's highs. Additionally if this one plays out the way we want, the price will print a Head and Shoulders pattern.
SL 20 pips
Target 100 pips if momentum will slow down, if not the target is 150 pips around the neckline of the daily inverse HnS and the 50 fib.
Happy trading.
A trendline break has occurred with slowing momentum, indicating a trend change might be on the way. the 4H and 1H printed a bearish divergence with the RSI, now the 1H trendline and daily pivot are being tested. Entered after ECB interest rate decision around today's highs. Additionally if this one plays out the way we want, the price will print a Head and Shoulders pattern.
SL 20 pips
Target 100 pips if momentum will slow down, if not the target is 150 pips around the neckline of the daily inverse HnS and the 50 fib.
Happy trading.