US Dollar was quite strong after the release of US Non Farm Payroll report on Friday due to the figure was better than forecast
Overall this pair is in the downtrend in D1 time frame.
Setup strategy: Sell
Since USD was strong after the report released, it gave us a better price for sell opportunity at near the blue zone and downward channel upper line.
Plus, it was rejected last 2 weeks when the price hit the blue zone/ yellow zone as indicated, thus, personally have a sell bias on this pair.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
Overall this pair is in the downtrend in D1 time frame.
Setup strategy: Sell
Since USD was strong after the report released, it gave us a better price for sell opportunity at near the blue zone and downward channel upper line.
Plus, it was rejected last 2 weeks when the price hit the blue zone/ yellow zone as indicated, thus, personally have a sell bias on this pair.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority