The rate seems unable to break recent highs, so it will break to the downside, as the longer term picture is down, and this recent move is seen as corrective. You can start fading this move, with first stop at 1.0820 and !.0860 for longer term, targets to the downside 1.0760 and 1.0730, but i believe if you go so far down today the 1.06xx will be seen soon...stay tuned!
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Ex-bank prop trader,23+yrs experience trading FX and Fixed income. Semi-retired now trading for the fun. Join our YouTube youtube.com/c/Tradingmarkets
Ex-bank prop trader,23+yrs experience trading FX and Fixed income. Semi-retired now trading for the fun. Join our YouTube youtube.com/c/Tradingmarkets