In the daily chart, the price has touched a previously broken horizontal level and “tested” the 50% Fibonacci level from the weekly chart. Currently, the price is forming a white candlestick. In the end of the day, it could end up with a bullish harami or even an engulfing. We should still try to buy the asset at the current price, relying on the strong levels:
Let´s set an ambitious goal at the level 1.4300. There shouldn’t be any obstacles coming our way up to this way, but we should be ready to change our strategy at the first sign of trend change:
Buy Limit 1.3620, Stop Loss 1.3540, Take Profit 1.4300.
This pair can be used as an alternative option. Now, the price has approached the weekly broken downtrend, which was drawn at the points of 1.03278 and 0.99986, for the third time in a row. The situation is not as obvious, as when it comes to the Canadian Dollar. The solution for the price is too close above the level 0.9813, forming a bullish engulfing. We should still hold on to the original plan: