Analysis based on round-number levels, price channels and modified Elliot Waves
The overall movement of the currency pair is downward. Now the pair is trading in the range of 135 and 365 moving averages.Fractal Start formed below 135 EMA, if it’s breached, a level N1 downward pattern within the wave C of level H2 will form, which will probably be the wave C of the level H4 downward pattern. Wedge pattern formed.
Trading recommendations:
Sell below 1.1029
Stop loss – 1.1080
Target levels – 1.0980; 1.0930.