Setup is as shown.
On mid term basis this pair is ranging. Overall picture is still downtrend with very weak momentum. Nonetheless, buying location had been protected 3 times in the past which I highlighted with pink. This indirectly tells us that if past data were to play itself again, we can expect some sort of buying at this level.
1st TP: 38.2% retracement as always which also align itself with previous mini sell off structure
2nd TP: At the top of the range (1.1175)
On mid term basis this pair is ranging. Overall picture is still downtrend with very weak momentum. Nonetheless, buying location had been protected 3 times in the past which I highlighted with pink. This indirectly tells us that if past data were to play itself again, we can expect some sort of buying at this level.
1st TP: 38.2% retracement as always which also align itself with previous mini sell off structure
2nd TP: At the top of the range (1.1175)