Hey, traders. Thank you for comments and boosts. Today's chart is Euro. Let's check it quickly.
We can see 1. the ascending channel. 2. top resistance on 1.08500 3. support on 1.06000 and 1.04500
We should check Thursday - US Initial Jobless Claims, Crude Oil Inventories Friday - Manufacturing PMI
We can expect 1. rebounding from 1.06000 to 1.08500 2. the price dropping by resistance on 1.08500 3. the price drops to 1.04500 and rebound to 1.08500
By overlapped support on 1.06000, the price stopped dropping. It seems like we can have chance for Long position near present price and hold it till 1.08500. After closing our long position, we can have chance for short position.
If the price breaks the support on 1.06000, we will wait till 1.04500 for long position to 1.08500. Let's see how the price moves.
Thank you for reading and hope this insight was helpful.
There's a pretty strong trend in assets right now, so I think you'll be right, and the idea will work out. But I'm worried that maybe we just haven't considered all the factors. What do you think about that?
shawntime_academy
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@Solldy, Well, I didn't check the US employee at that time. For now, it seems like showing downward movement. I will be holding my long position till the price breaks 1.05000.