As the dollar pulls back some previous gains, Price now has a rough 50pip support level to test before making either a push to the upside or break for further momentum lower. 1.20 is definitely a key area for this pair right now. The building to NFP has started with a view to some improved employment numbers following Bide's increase in vaccinations but is this being priced in now? Are we seeing a front run combined with profit taking?
Both sides have their plan.
Both sides have their plan.
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Close of the 4h candle will be the early entry here. 1:5 risk to reward with the target set at 1.2350