This is an interesting pair. If the Pair Respects the Resistance Zone, we are in for a huge shorting movement. If the Pair Rejects the Resistance Zone, then we will look back to see what the market is telling us.
I look at the pair respecting the Zone because of the following reasons; we have a forming head & shoulders pattern; we see no momentum towards the resistance zone which means that buyers are not in control; we saw huge momentum downwards which caused the pair to drop before the sudden correction began. If the markets respects our analysis, then we have 3 profit targets for the next few days or weeks. Target 1 - 99 pips, Target 2 - 243 pips & Target 3 - 462 pips. Trading Requires Patience.
*Trading with Samuel*
I look at the pair respecting the Zone because of the following reasons; we have a forming head & shoulders pattern; we see no momentum towards the resistance zone which means that buyers are not in control; we saw huge momentum downwards which caused the pair to drop before the sudden correction began. If the markets respects our analysis, then we have 3 profit targets for the next few days or weeks. Target 1 - 99 pips, Target 2 - 243 pips & Target 3 - 462 pips. Trading Requires Patience.
*Trading with Samuel*
