More downside to come in this pair. Trade the breakout (towards the downside) of the correction or the pullback to the 61.8 fib level @ 82.90 with target at 80.50-80.70
Comment:
Daily chart: Next level of support at area mentioned
Comment:
H1 chart: If flag formation forms and break downside, you can open a sell trade. If it heads higher, wait for 61.8 fib level before entering short for trend continuation trade.
Trade active:
Breakout occurred, not much movement in market today except CAD is getting a lot weaker. Target at 80.50
Comment:
Changed short position to long position. Bullish divergence as seen.
Comment:
Closed half buy position with +20 pips profit, move remaining SL to entry.
Trade closed: target reached:
Target reached with +70 pips profit.