The USD's strength in the past few days keeps pushing this down. In my last post on this I hoped it would hold at 0.382 Fibonacci but did say it could drop to 0.5 and 0.618. This price aligns with previous structure so there will be support here. For the moment it is still bearish so we need to wait for a sign that it will turnback before entering another long. MACD needs to start rising back to 0 and EMA's need to come close to crossing back over.
Target is still the same as previous post - 1.25529
1.25 has been my target since the end of November. I hope is dying with every pip
olly48
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@hulldinho87, you should be alright. Its obviously wiped out most or all of your profit with this move but it will surely hold this area before rising again. It had to have a correction. I cannot see the USD's recent strength lasting long
hulldinho87
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@olly48 I bought at 1.1940. I knew around 1.2250 i was going to have to suffer some frustration with a pull back but I never thought with the momentum it had, it'd be back down to nearly break even. But hold i shall