With a new monthly candle about to start there could be a nice momentum move to the upside on this pair to test the diagonal resistance above near 1.16-1.18. A decade long consolidation pattern is about to reach a trigger point for a move in either direction. My bias is for higher prices however volatility is to be expected.
On the daily, a break of 1.1360-1.1425 would be a trigger for a long trade. anything below 1.1160 would indicate further consolidation down to 1.09 for a longer consolidation cycle extending to the end of the year
On the daily, a break of 1.1360-1.1425 would be a trigger for a long trade. anything below 1.1160 would indicate further consolidation down to 1.09 for a longer consolidation cycle extending to the end of the year
Giao dịch đang hoạt động:
Long entry triggered on the 14th. Once price cleared 1.1384 it levitated for instant profit. I am still in the trade. We are currently up about 155 pips and another locked in winner.
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