I was wrong with the direction yesterday, I said we would break down but instead it went up, while closing near the mid point. Price now supported by PZ; from current looks, it seemed to be supported and 1.2470 or so will be a magnet.
Price action wise, market made higher lows and highs yesterday but direction is not so clear though bias is slightly to upside. IMO, DXY is strong but I expect some weakening (GBPUSD to up first) but DXY to rally later. Thus I plotted the possible path as a move to 1.2472 or so then a pullback to the BZ again. On downside, supports are at 1.2390, 1.2370 and 1.2340.
Possible trades: short 1.2476 stops at 1.2490 tight stop (hard stop at 1.2510) target 1.2410, or if 1.2436 breaks, short to target 1.2370, 1.2340, stops at 1.2460, R:R 2-4.
Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
Frånsägelse av ansvar
Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.