Sorry I've been quiet took a vacay and enjoyed myself away from trading :) has to be done right ....... Turkey before you ask and it was amazing the food was immense ...
So right back in here this pair has been testing along the way to say the least and what with the EU pumping money into the eurozone to boost stimulus has seen buyers stepping back in and a leg up for now. However I have felt for a while we will see this go up to 1.16-1.17 area before resuming the T/L resistance down to support again ....
So what can we do in this situation , well this is an advanced stategy and not to be used by beginners , but I have been increasing my way in short from the 1.10 upto 1.1150 area and when we popped 1.12 Ive been hedging up long.... so we are guarded on both sides of trade and long term I feel I will ride the long part of the trade upto the T/L resistance zone marked around the blue zone, then close out the long position and leg in on the final part of my short position around here 1.16-1.1650 and hold until the end of the year when we return to the T/L support @ 108.50-109. area .
Hope this helps guys/gals remember any questions feel free :)