Expecting pullback to turnaround in the 110.410 area. A bounce is probably going to happen and we have a double top formation (possible reversal) as well as a trend line that was consistently making higher lows. Strong bullish sentiment on the long term time frames. Continue to ride pullbacks on the hourly and smaller time frames. Take profit is approximately 350 pips above current price level. Take caution with additional pullbacks and use stop losses at your discretion. News expected to reveal further dollar weakness but long-term suggests higher price movement.
*Trading is not for everyone and losses could easily exceed investment capital. Use proper risk management and small lot sizes to protect individual accounts.
*Trading is not for everyone and losses could easily exceed investment capital. Use proper risk management and small lot sizes to protect individual accounts.