We talk about this pair last week , and as I mentioned before , I'm bullish about this pair. Even when it drops below the lower trend-line one of the members of the group send an analysis , and I warn him about fake break outs. If you take a look at weekly chart too, there is a pin bar exactly on a conjunction of supports, and also I have to consider Fibonacci 61.8% line around 1.1200 . On the other hand we have fundamental situation on USD , this is the longest period of time that US economy is expanding in the last century without any stops. So maybe this year put an end to this non-stop growing. On this chart I prefer to see an intraday correction and then continue to go up , it may make continuation pattern on lower time frames. As you can see next technical target is 1.1538 and if it couldn't break it , that would be a bearish sign to enter shorts.
If you want to see how I trade this pair
you can easily follow me on FXTM Strategy Manager Account.
You just need to sign-up there and find “Hermya-com” in the search field.
If you want to see how I trade this pair
you can easily follow me on FXTM Strategy Manager Account.
You just need to sign-up there and find “Hermya-com” in the search field.