We have a series of high impact news this week with FOMC mins on Thursday morning SGT and a series of manufacturing PMI from France and Germany. We are looking to short this pair based on the following:
1) EMA pointing down which suggest downtrend still in tact
2) A support turned resistance zone at 1.1390
Trade Set-Up
EP: 1.1346
SL: 1.1480
TP: 1.1216
A break below 1.1216 can see price revisit the low of 1.0890.
Kindly note that we have an on-going trade for this pair in our earlier analysis.
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
1) EMA pointing down which suggest downtrend still in tact
2) A support turned resistance zone at 1.1390
Trade Set-Up
EP: 1.1346
SL: 1.1480
TP: 1.1216
A break below 1.1216 can see price revisit the low of 1.0890.
Kindly note that we have an on-going trade for this pair in our earlier analysis.
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Trade active:
EP has been triggered.
Trade closed: target reached:
TP Hit!