Long term trend: Up
Medium term trend: Down
Significant Levels: 0.784 (Horizontal Support), 0.8 (Significant Round Number and Horizontal Resistance), Downtrend Line
Yesterday's bar formed a Large Bearish pin bar, rejecting the Significant Number. This is a signal for us to place a Short trade now.
Trade setup:
Sell: Around 0.7990 area
Stop Loss: Around 0.8050 area
1st Profit Target: 0.7900
2nd Profit Target: 0.7850
Trade well.
Disclaimer: Anything can happen in the market. The trade setup provided above is just a recommendation from our trader/s and there is no guarantee that it will be successful. Trade at your own risk.
Medium term trend: Down
Significant Levels: 0.784 (Horizontal Support), 0.8 (Significant Round Number and Horizontal Resistance), Downtrend Line
Yesterday's bar formed a Large Bearish pin bar, rejecting the Significant Number. This is a signal for us to place a Short trade now.
Trade setup:
Sell: Around 0.7990 area
Stop Loss: Around 0.8050 area
1st Profit Target: 0.7900
2nd Profit Target: 0.7850
Trade well.
Disclaimer: Anything can happen in the market. The trade setup provided above is just a recommendation from our trader/s and there is no guarantee that it will be successful. Trade at your own risk.