Right now we are seeing price action consolidate within a pennant inside our upward channel. I am expecting this structure to continue to consolidate and eventually break out upwards to our first take profit at 1.41587. After that, I am looking for bullish signs to hold this pair through the week to test the top of our channel at our second take profit. Our stop loss could go down farther if you are willing to accept a larger initial draw down. We're goin to the moon with this one!
For more information on technical analysis and signal calls, please visit rileyedwardsfx.com.
Happy Trading!
For more information on technical analysis and signal calls, please visit rileyedwardsfx.com.
Happy Trading!