MACD and stochastic are indicating new uptrend might start soon.
Last time it happend was in the previous horizontal channel, and the price consolidated for quite some time, but never broke down below the horizontal channel.
I suspect this will repeat itself this time before we continure higher, although I don't think it will take that long.
as my previous idea described, the bottom of this current horizontal channel is at 105.400, lower than this is highly unlikely and I when long last time at this level, and booked a nice 250 pip profit yesterday.
Also opened a new position at 106.600, which I keep open for now.
therefore my advice is to buy the dips on this pair, as long as we are inside the channel.
The 0.5 Fib level should bring strong support and is a good place to go long again.
Looking at next weeks news the FOCM meeting and PMI are likely going to bring positive news, as well as higher unemployment for japan. this is going to be an interesting one
trade wise
Last time it happend was in the previous horizontal channel, and the price consolidated for quite some time, but never broke down below the horizontal channel.
I suspect this will repeat itself this time before we continure higher, although I don't think it will take that long.
as my previous idea described, the bottom of this current horizontal channel is at 105.400, lower than this is highly unlikely and I when long last time at this level, and booked a nice 250 pip profit yesterday.
Also opened a new position at 106.600, which I keep open for now.
therefore my advice is to buy the dips on this pair, as long as we are inside the channel.
The 0.5 Fib level should bring strong support and is a good place to go long again.
Looking at next weeks news the FOCM meeting and PMI are likely going to bring positive news, as well as higher unemployment for japan. this is going to be an interesting one
trade wise
