Risk currencies have been holding bullish sentiment for a very long period now, everything must come to a pause or stop eventually and this may be just that. Due to how long the bullish momentum has gone there's enough room to follow price back down, how far down? Well we do not know but there are some personal mark ups I have left on the chart. This has a lot of dependence on the western world vaccinations and how fast these will get done which is something to keep note of. Last week we had already seen de-risking with strong USD gains and although this week started strong across risk currencies, all have shown de-risking going into the weekend. There can be numerous entries for the forecasted trade.
Comment
⋅
Target 2 reached with ease. No change in sentiment... yet.
Comment
⋅
Stop loss set to 0.77200 need to see reversal candles at 77.070 preferably on 5 / 15minute TF