Last week, price managed to break and close above the previous structure high. However, just before the market closes on Friday, we saw a double top divergence formed. With the double top divergence in place, we are expecting price to at least retrace to retest the 95.00 region.
As long as this level holds, we can expect price to head and form new high. However, should the 95.00 level is breached, we can potentially see price reaching towards the 94.50 level.
I would love to hear your opinion, feel free to comment, agree or disagree.
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KY
As long as this level holds, we can expect price to head and form new high. However, should the 95.00 level is breached, we can potentially see price reaching towards the 94.50 level.
I would love to hear your opinion, feel free to comment, agree or disagree.
------------------------------------------------------------------------------------------------------------------------------------------------------------------
Always wanted to connect, learn and help one another throughout your trading journey? Join our community for FREE at facebook.com/groups/fxpipsology/ The only thing you need to 'pay' is your commitment to trading and sharing!
Have a great pipping day!
fxpipsology.com/
facebook.com/fxpipsology
Cheers,
KY
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