Though currently still trading inside of a Bearish trend Channel the support T.L from 2nd December remains intact.All this setup requires is a break and close above the 1080 area for confirmation.With FOMC statement & interest rate decision for the US DOLLAR ahead this makes this a very risky setup but I myself feel it maybe worth trying.Technically Prices are still above the 100 day and 50 day Moving averages.Stochastics looking positive ahead of the event.
ENTRY CRITERIA :
Wait for a Close above 1080 look to buy around 1080-1082
TARGET 1 : 1100
TARGET 2 : 1112
TARGET 3 : 1126
STOP @ 1046
Keep in mind we have FOMC statement coming out along with the Interest rate decision [forecast @ 0.50%] as well as FED chair Yellens speech ahead.Which means we'll be dealing with extreme volatility !