Price is in a short down trend. Think price will meet the trend line again and drops down to the 0.67 area. If price breaks the trend line and gets support from the trend line we will probably see price go back up to 0.69 or even to 0.70 but with the latest Dollar strength I will put my money on a move down.
Comment:
Today we have seen a fake out of the down trend. This is a good opportunity to activate a short trade to the 0.67 region. You have a great risk/reward ratio if you put your StopLoss at 0.69 because 0.688 seems to be a strong resistance area.
Trade active:
Hopefully you took this trade too! We are running nicely in profit, looking forward to see this trade in the TP region of 0.67
Trade active:
We almost reached the 0.67 region, but price jumped up because of some Dollar weakness. I suspect price to come down and hopefully hit the TP of 0.67
Trade closed: target reached:
Closed the trade in my target region of 0.67 on to the next one!