Is consolidation for this pair finally over!? after 12 weeks of price stalling in its uptrend we have been moving sideways, & recently had some strong bullish momentum these past few days. Watch for a daily close above the resistance. After consolidation comes a strong breakout
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If price closes above the 61.8 on the daily which failed many times to break a strong bullish move will occur
@intergold, it closed above the 61.8 daily fib region so I am bullish
preeasy22
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@eazywayout, Will you take a long term buy here? Seems like it should ascend throughout '18 with the recent hawkish EUR news... I believe I will place a small long term buy tomorrow to hold for foreseeable future and take new positions throughout if it continues to soar. Thoughts?
Profound_Ambition
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@preeasy22, I agree, price could continue its uptrend & keep pushing higher throughout next year. Lets see how the BOJ press conference goes later today if it is dovish or hawkish
preeasy22
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@eazywayout, Agreed as well. Important to use small lot size from the jump as we may see heavy swings prior to decisive liftoff upwards and then re-enter throughout the year at opportune times to increase profit. This long term trade could be a profitable one, just need to manage correctly. I hope you continue to update this trade as I'm interested to see how you approach it along the way. Cheers!
intergold
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@eazywayout, I thought your 61.8 was at 134.653. Sorry.