In the daily chart we can see a strong bearish engulfing pattern forming up at a daily S&R. Furthermore, When we drill down on the 4H and 1H chart we can see a bearish pennent forming indicating that the price will do down. Even Futhermore, I expect with the unemployment news about to come out today will be bad for the currency due to the COVID pandamic it has gone up.
** I'm a newbie trader and I welcome all comments and feedback on my analysis. Thank you in advance.
** I'm a newbie trader and I welcome all comments and feedback on my analysis. Thank you in advance.
Trade active:
The news is abit more positive than I expected, please keep an eye on the trade as things can go south real fast
Trade closed: stop reached:
Stoploss hit on this trade