As mentioned on a previous post from last week. I was expecting price to either drop from the TL around 1.6500 or for price to push up further into the major resistance area at around 1.6700.
We have now reached 1.6700 and i predict a 300 pip drop into support at 1.6400.
If we see a break of support at 1.6400 we could see 1.6000 being touched in the near future.
For a slightly more conservative target, we could look to take profit (or 50% profit) at around 1.6550 which would also be a touch of support.
We have now reached 1.6700 and i predict a 300 pip drop into support at 1.6400.
If we see a break of support at 1.6400 we could see 1.6000 being touched in the near future.
For a slightly more conservative target, we could look to take profit (or 50% profit) at around 1.6550 which would also be a touch of support.
