We can see that support trendline from December 2015 is still active. The NFP on Friday price push to channel middle line. We are looking for retrace to strong weekly supply zone and BRN 1.1500 then we will looking for short call. The risk reward ratio is very good. Long term we looking for break monthly demand level @1.0570 and to go down to 95.000 or 93.000 level demand zone from year 2000. The RSI is still in uptrend to 70.00 zone so we will wait it. The RSI must get momentum and retrace back to normal mode 50.00 or lower.
How do you calculate the strength of currency in pars? Can anyone assist me.
NearDrowning
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Check my idea on GBPUSD or spx500 :)
Zentrades
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nice chart
FxcInvesting
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Thanks :D
blake200
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Hi,
nice work I am also looking for short call at 1.1500 however 1.1800 i think could be possible and i'm wondering weather you have had any thoughts about that ? cheers
fxfabianng22
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Agree on that resistance zone :) been holding price since early 2015 thanks for the post
FxcInvesting
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You are welcome :)
remi.cartier
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Monthly up, weekly up, daily up, dont know where it will retrace downward. This would probably require extra care for trade management.
The supply zone has already been tested before and didn't move that far down. Sellers do not seem to be numerous up there. My humble opinion.
FxcInvesting
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Thanks for your look Remi ! :)
LevRidge
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Yea, don't do it... eu is going to 1.180 possible retrace there before 1.212