A retest of 1.199 is a possibility.
1.199 was a very strong resistance level that was used and respected multiple times before yesterday price smashed through this level, now when price breaks such a strong level we do expect price to come back down and retest that level as support before making more bullish moves up to our target area which is marked out with a yellow box on the chart.
A push down to 1.199 is around a 140 pip move which sounds big, but don't forget we are working on the daily timeframe so 140 pip move is not a lot at all, my style of trading is swing trading not scalping. Swing trading is a lot less stress.
If you want to know about my trading style then please just come and ask.
Peace out.
1.199 was a very strong resistance level that was used and respected multiple times before yesterday price smashed through this level, now when price breaks such a strong level we do expect price to come back down and retest that level as support before making more bullish moves up to our target area which is marked out with a yellow box on the chart.
A push down to 1.199 is around a 140 pip move which sounds big, but don't forget we are working on the daily timeframe so 140 pip move is not a lot at all, my style of trading is swing trading not scalping. Swing trading is a lot less stress.
If you want to know about my trading style then please just come and ask.
Peace out.