Price is up against some heavy resistance @1.63 and we can also see that Bearish momentum is increasing so I guess we will see a further decline in Price in the next few days. Crucial is a break of the trend line on the other hand if there is a break of the counter trend line I will close the trade manually. I hope my on screen analysis is clear but if not feel free to ask me in the comments below.
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Although we saw a further incline of Price the Counter Trend is still intact. I’m still patiently waiting on a break of the Trend line up. Hopefully we’ll get closer next week.
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Trade is still active. I hope we will see a further decline this week. In the image below I drew the channel price is currently in. [img][/img]
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Price still respects the Counter trend line as drawn on the image above. I hope we will see a break of the Trend line this week.
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Price finally broke the Trend line and heading towards the Fibonacci 0.5 line. From this point forward I let my trade run until Price breaks the Counter Trend line.
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Still holding on in profit...
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Price is back at S/R level around 1.631 still holding on because I think the Counter Down trend is still intact.
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[img][/img]
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We are going back down again! Still being patient.