As we enter into the year 2015, I am glad that the short trade I had adviced on the pair has completed and it has logged in a cool 450 pips!
the Di-Napoli Double Repo pattern is normally a very reliable pattern with one of the best risk ratios. As you can see here, our stop loss was just 30 pips away while we made a 450 pips on the profit!
I hope you followed this trade and made a great profit!
we will keep a check on this pair and plan the next entry.
However, currently though there is a good chance that the pair could go down to the fib 61.8 support at 141.00, I think we should wait to see how the pair reacts at the current levels.
Range to watch out for is 142.50 on the lower side and 143.40 on the upper side which is the Weekly Support 1 which could act as a resistance at the current scenario.
Until next update,
Happy trading and happy pippin!