Referring to my last analysis of this pair (Where will it end?) 5 days ago, where I was looking for buylimits at lower levels, it seems to me that this right here is worth a try to go long with the 61.8% Fib-Retracement in the back as support. YES, it does not look like a very trustworhty situation but which spot does at the beginning of a expected counter reaction? Anyway, I trust the two shadows and the Fib-Linie. Unfortunately, Momentum is not yet positive but it seems to me that it will show some sign of life during the day. Watch the Dollar Index, as it is sitting around 80 and I guess there will be resistance for the Dollar ahead. I am going long right here as I can calculate my risk and the chart tells me pretty clear and fast where I am wrong if it happens to be so.
Comments
artaj68
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Thanks for posting, was not easy trade, but I made money. Thanks again.
artaj68
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Thank you for posting. On 1 hour chart found some spot to get long position, nice round number. But my target is just a retracement 60% of the previous move down.
Once again, thank you for posting.
Chart:
tradersvision
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...my pleasure!...120 pip target...lots of profit...in case we hit the target...:-)