The pair is in a downtrend, Friday’s candle was large (moved 70 pips) and broke below the support zone at 0.6170 with some serious momentum. Price is also well below the 200dma and I am looking for a retracement and indication of a bearish continuation.
The obvious target would be in the 0.5960 region. If this works out as I expect, we are looking at a + 2R trade.
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The obvious target would be in the 0.5960 region. If this works out as I expect, we are looking at a + 2R trade.
If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications.
Always use sound money and risk management in all your trades.
Nota
Moving slower than I expected, but it is in the right direction :)I am staying with it for now but stop has been moved to break even. So a no risk trade for me.
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.