Tuesday is not likely to see much economic data that could move the markets significantly. Central bankers from the front row are also reluctant to make public appearances. The general market sentiment is thus likely to set the direction in the currency markets. Recently the mood on the stock markets has brightened somewhat, after having been heavily burdened by the trade conflict between the USA and China.
Market price reached first strong support area before another test of 1.102 area which is important long term major support.
I expect temporarely bottom building at current price stage and this is worth an swing trade with good risk/rewrad ratio (4,3)
RSI is near trend line support and looks like the baseline going to retrace from trend support line which is bullish indicator.
Market price reached first strong support area before another test of 1.102 area which is important long term major support.
I expect temporarely bottom building at current price stage and this is worth an swing trade with good risk/rewrad ratio (4,3)
RSI is near trend line support and looks like the baseline going to retrace from trend support line which is bullish indicator.
Trade active:
market in buy area
Comment:
move stop loss to entry
Trade closed: stop reached:
trailing stop reached - looking for new entry
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
