Current swing : uptrend
Setup strategy : pull back (sell entry)
price likely to test on this daily resistant (in blue zone), if price manage to close below this daily resistant zone plus a sell confirmation, a short term pull back (sell setup) would be placed.
Market is usually consolidate phase on Monday, plus there is no big news going to release on Monday, thus low volatility is expected where no huge price fluctuation on this pair
Wait for some sell confirmation around 122.25+-
Target TP 121.55
Stop loss SL 122.88
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
Setup strategy : pull back (sell entry)
price likely to test on this daily resistant (in blue zone), if price manage to close below this daily resistant zone plus a sell confirmation, a short term pull back (sell setup) would be placed.
Market is usually consolidate phase on Monday, plus there is no big news going to release on Monday, thus low volatility is expected where no huge price fluctuation on this pair
Wait for some sell confirmation around 122.25+-
Target TP 121.55
Stop loss SL 122.88
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority