We are on the downtrend dictated by the weekly and dailey charts.
We have a strong correction due to last week news on USD currency.
The price hit in multiple points the downtrend rezistence line (dailey chart)
On 1h chart we hace a corection of the last downtrend, matching the level 0.236 of fibonaci retracment.
I am expecting the correction to go to around 0.382 level.
Arguments to buy:
- missed weekly and monthly pivot
- on RSI indicator we are in the edging the overbaught zones
- we have a good uptrend movment
- we are over the 100 SMA indicator
There is the possibilty of a a hit around the 0.5 level
Arguments to short:
- there is a good rezistence line that holds
- even if we have a correction, on bigger time frame charts we are in downtrend movment
This are my target trades, but I will adapt them on the go
SHORT T1 - OP:1.27169 SL:1.27619 TP:1.26269 (90/45 pips)
LONG T1 - OP:1.27653 SL:1.27303 TP:1.28353 (70/35 pips)
LONG T2 - OP:1.27638 SL:1.27038 TP:1.29438 (180/60 pips)
We have a strong correction due to last week news on USD currency.
The price hit in multiple points the downtrend rezistence line (dailey chart)
On 1h chart we hace a corection of the last downtrend, matching the level 0.236 of fibonaci retracment.
I am expecting the correction to go to around 0.382 level.
Arguments to buy:
- missed weekly and monthly pivot
- on RSI indicator we are in the edging the overbaught zones
- we have a good uptrend movment
- we are over the 100 SMA indicator
There is the possibilty of a a hit around the 0.5 level
Arguments to short:
- there is a good rezistence line that holds
- even if we have a correction, on bigger time frame charts we are in downtrend movment
This are my target trades, but I will adapt them on the go
SHORT T1 - OP:1.27169 SL:1.27619 TP:1.26269 (90/45 pips)
LONG T1 - OP:1.27653 SL:1.27303 TP:1.28353 (70/35 pips)
LONG T2 - OP:1.27638 SL:1.27038 TP:1.29438 (180/60 pips)
Order cancelled:
a sell trade would have been completed.
did not entered the trade
did not entered the trade