• H4 Quasimodo resistance at 1.1382.
• Nice-looking H4 pattern which shows completion around the 1.1367ish range (H4 88.6% Fib resistance/H4 161.8% Fib extension).
• Psychological resistance at 1.14.
• Daily supply area at 1.1446-1.1369 which encapsulates the H4 Quasimodo sell line.
• Daily resistance (1.0821) which fuses beautifully with the H4 Quasimodo sell line.
• And finally let’s not forget that all of the above is housed within a weekly given at 1.1533-1.1278.
Well done to any of our readers who sold alongside us!
Pushing forward, we have an initial target objective set at the 1.13 handle, which, in our opinion, should easily be achieved today. Ideally, we’ll be looking to reduce risk to breakeven here and take 50% of the position off the table before the week’s close, as we absolutely despise leaving open positions live over the weekend! Our final take-profit target for this sell can be seen around the H4 support line coming in at 1.1237, due to this barrier lurking just above the daily drawn from 1.1224-1.1104 – the next downside target on the .