As we can see there is a H & S patern at D1 and price recently ranging across with no confirmation of direction.
Wait for price to form a clear picture for trade execution, employment data is set to release on Thursday 9.30am MYT with previous data 88.7k vs forecast 35.2k, price may fluctuate during data is released.
If the employment data is good, it may have a temporally upward move till 0.7670, vice versa if the employment data is bad, price may go bearish to test the support the support 0.7580.
If it does breakout of the support zone with price movement forms a correction pattern, then look for sell opportunity till 0.7400
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
Wait for price to form a clear picture for trade execution, employment data is set to release on Thursday 9.30am MYT with previous data 88.7k vs forecast 35.2k, price may fluctuate during data is released.
If the employment data is good, it may have a temporally upward move till 0.7670, vice versa if the employment data is bad, price may go bearish to test the support the support 0.7580.
If it does breakout of the support zone with price movement forms a correction pattern, then look for sell opportunity till 0.7400
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority