Price has been respecting the long term downtrend line for a long time. Last 5 days we have seen that price is trying to cross the trend line in upward direction. From the movement and nature of the price action we can assume that the short term uptrend will continue. We need proper break out and retest of the trendline and the level 109.32
Trade Idea:
Long Trade
• After proper breakout of the trendline and retest near level 109.32 we can go for long trades targeting level 111.00
Short trade
• Traders who want to go short in this pair, to be safe should wait for the pair close below 108.86 level
This trading analysis are only for getting idea about the current market situation.
This is not a signal. These can be used for education purpose only.
Abid Hossain
Trade Idea:
Long Trade
• After proper breakout of the trendline and retest near level 109.32 we can go for long trades targeting level 111.00
Short trade
• Traders who want to go short in this pair, to be safe should wait for the pair close below 108.86 level
This trading analysis are only for getting idea about the current market situation.
This is not a signal. These can be used for education purpose only.
Abid Hossain