Update: First Target Hit
Stop loss moved to break even
All targets reached
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I just initiated a long term long position.
If you're looking for a longer term position trade, this might be a good choice to speculate on. The pair has been in a major consolidation phase within the past few years, that kind of action usually precedes major long term trend shifts. The price may have broken out recently, and could be just the start of something much bigger.
The fundamentals support this view, as markets continue love the U.S. dollar, the out-performance of the U.S. economy and potential reversal in the monetary policy cycle could be the main catalyst for this trade.
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
Stop loss moved to break even
All targets reached
----------------------------------------------------------------------------------------------------------------------------------
I just initiated a long term long position.
If you're looking for a longer term position trade, this might be a good choice to speculate on. The pair has been in a major consolidation phase within the past few years, that kind of action usually precedes major long term trend shifts. The price may have broken out recently, and could be just the start of something much bigger.
The fundamentals support this view, as markets continue love the U.S. dollar, the out-performance of the U.S. economy and potential reversal in the monetary policy cycle could be the main catalyst for this trade.
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician