Are We Extremely Over-Bought ? Time To SELL ?
If you read my trade setup on this pair from July, I had predicted a decline below 0.86 followed by a rebound surpassing 0.88, settling within the monthly range.
The lowest point reached was 0.855, followed by a consistent bullish trend for 12 consecutive weeks. As a result, the price appears overbought as it enters a Weekly SUPPLY/SELL zone and approaches a significant resistance at 0.91.
Given these indicators, I'm inclined to SELL this pair at its current price, setting a stop loss just beyond 0.92. My target is the recently established Weekly BUY/DEMAND zone around 0.88, and I'll be closely monitoring the price response at this level.
This region might entice buyers to jump back in, potentially aiming for the 0.93-0.94 range
The lowest point reached was 0.855, followed by a consistent bullish trend for 12 consecutive weeks. As a result, the price appears overbought as it enters a Weekly SUPPLY/SELL zone and approaches a significant resistance at 0.91.
Given these indicators, I'm inclined to SELL this pair at its current price, setting a stop loss just beyond 0.92. My target is the recently established Weekly BUY/DEMAND zone around 0.88, and I'll be closely monitoring the price response at this level.
This region might entice buyers to jump back in, potentially aiming for the 0.93-0.94 range
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Access my Weekly Swing trade setups here - www.forexcopierpro.com/forex-signals-page-info
Join Telegram group -https://t.me/+T7V_JSiKKsliMTJl
