As the current structure stands, we are shifting our bias towards bears for the upcoming period of time.
The price has been able to bounce off the 1.068 - 1.069 area of support and is making its way to the 2 important recently penetrated key zones plotted on the graph:
1.086 area of resistance that lines up with the lower barrier of the portrayed channel and the 50% Fibonacci retracement level drawn from the top of the impulse
and
Fresh support now turned into resistance of the 1.08 key zone that aligns with the 38.2% Fibs.
Now, we wait for the price to approach the highlighted zones and match our entry criteria before we execute and look into riding the trend continuation.
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