The price dropped to the support zone near the bottom border of the horizontal price channel. We have a bullish candle confirming that the market bounces from 1.60 level. RSI confirms price reversal. It’s buy opportunity.
We can place pending orders for buy at 1.71 level with stop orders below the support level. Profit target is the top border of the price channel. Also we have pending orders above the resistance level. They are still workable. If the price breaks the top border of the price channel, we’ll be able to catch possible upward movement. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.
Profit Targets: 1.96
The trading signal is based on Kraken chart.