The pair is testing the previous weeks and July 2017 highs once again , 1.3440 in particular is a strong resistance area and a hurdle above that would take it to a 1.3480 and beyond test . This is not a likely scenario, and if it were breached would most likely not sustain . As we see the new year with usd strength waining due to interest rates holds.
1.3300 makes an attractive target at this point and any move towards 1.3500 can be a great sell opportunity long term towards 1.3050 . At this time with a reversal pin showing on the one hour closing , price should drop at least towards the 200 hour ma and further weakness to 1.3300. Thx guys!
1.3300 makes an attractive target at this point and any move towards 1.3500 can be a great sell opportunity long term towards 1.3050 . At this time with a reversal pin showing on the one hour closing , price should drop at least towards the 200 hour ma and further weakness to 1.3300. Thx guys!
Comment:
I apologize guys , it’s my first chart and a few of the texts are cutoff , better next time !
Comment:
* watch for weekend gap , if price has dropped take advantage to buy up in the first 10 min back to or close to original price in the hours ahead .In my years with forex trading this particular pair fills gap close to 90 percent of the time . Would work on a topside gap to sell although if above 1.3440 be cautious .