On H4 Chart, the formation of Triple Tops is in the making. However, there will be a strong support at 1.0400, which is the 23.6% Fibo Retracement and the bottom of Ichimoku Cloud.
Breaking this very important support( 1.0400) convincingly will send this pair toward the next level 1.0318, and 1.0240 and beyond., . Further more, below 1.0400 will confirm and finalize the beautiful Triple Tops thereafter.
Proposed Strategy
SELL near 1.0390-1.0380
Target : 1.0300, then 1.0200
OR
BUY near 1.0400
First Target: 1.0676
The correct use of either one of the above strategies will depend on actual price action (PA), we cannot predict the outcome but TECHNICALLY,, if Investor appetite for safe haven currency remains to be intact and firmer, then we may see this currency pair heading toward the parity zone again.
H4 chart
No comments:
Post a Comment