Confluences for Trade:
- candles formation
- Price rejected Resistance (since May 18)
- Horizontal Resistance (38% Fibo level) strong
- Price broke the Short Term (since Sept 18)
- Overbought momentum
- Fundamentally, Italy supposed to provide EU with a revised budget this coming Tuesday but from the likes of it, unlikely there would be any revision. The continuation of this budget issue will only make Italy's budget deficit worse with the Italian bond yields spiking higher.
Entry @ Area of Interest 1.1370 - 1.1430
RR: Approx. 2.00 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Run remaining position totally risk free.