Similar to NZDUSD, I would buy if price goes to the 0.7160 low, but again not likely but possible. Long bias until the 0.7470 area is reached.
This is my forecast for the week ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates.
Just because price has reached my area of interest does not mean I will open a position unless I specifically mentioned I would open a position there. I would normally watch the price action before deciding.
Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.
This is my forecast for the week ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates.
Just because price has reached my area of interest does not mean I will open a position unless I specifically mentioned I would open a position there. I would normally watch the price action before deciding.
Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.
Comment:
That test of the lows is unlikely now, look for prices to reach the next area of resistances.
Comment:
Wednesday
Still bullish, look for a small retracement to retest 0.7356 before the next upmove to 0.7460-0.7480 area.
Still bullish, look for a small retracement to retest 0.7356 before the next upmove to 0.7460-0.7480 area.
Comment:
Thursday
Resistance is very near, a good place to take profits, then wait for a break or sideways movement expecting a turn.
Resistance is very near, a good place to take profits, then wait for a break or sideways movement expecting a turn.
Comment:
Friday
We are entering a zone of resistances up here, I would wait for a break of this zone before looking for more longs, else I am standing aside waiting for a better trade.
We are entering a zone of resistances up here, I would wait for a break of this zone before looking for more longs, else I am standing aside waiting for a better trade.
