Current price: 1.0875
Key point: 1.0900
Our preferred direction: Sell positions below 1.0900 levels with 1.0835 as a first target and then 1.0800 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 1.0900 level, targeting the 1.0950 levels.
Technical commentary
The pair is moving in an upward direction from the bottom of last April above the ascending trend line, and in the event of an increase and stability above the 1.0900 levels, the pair will head towards the 1.0980 levels.
In the event of stability and a decline below the 1.0890 levels to activate the harmonic pattern, the pair will head towards the 1.0800 levels.
