Main previous swing high or horizontal support area.
Main rising trend line for the latest medium term bullish trend
The 38.2 Fibonacci retracement for the overall bullish trend
We might see a bounce from here, thus i would target 1.3000 as a first target for the potential bullish scenario If we break below 1.2800 with daily closing, I would close longs and short targeting 1.2660 as an initial target.
The countdown has started.. Check out The Forex Channel all-new coming soon page with a countdown timer to launch date, visit and subscribe at thefxchannel.com My Best Regards Technician
Trade closed: target reached
⋅
Upside remains favored..
Comments
Fxprotrader
⋅
Great analysis as always. Counting waves to this one i believe that in that support zone we have wave iv completion. So i believe there is one more rally before a massive drop. Well done Technician..!
Technician
⋅
Thanks mate. Its going as expected.
KRH
⋅
Great one. Missed it !
Piet.Hein
⋅
Target reached too, but agree, upside is favored :)
Rocketman
⋅
What happened to all the anti-dollar sentiment?
Technician
⋅
Well investors are still convinced that the u.s. economy is doing not bad and the fed will probably hike soon.