This pair has recently broken the declining trendline to the upside and is currently in an uptrend. The retracement of the latest impuls has created a support zone for stop loss placement. The buystop order has been placed @0.7267, targets @0.7325 and the stoploss beneath the support zone @0.7218. Happy banking!
A break of the resistance zone would complete a buy stop opportunity. The rising trend line has been retested multiple times and has proved to act like support. The buystop order has been placed above the resistance zone @1.1932, targets @1.2042 and the stoploss beneath the rising trend line @1.1849. Happy banking!
According to the lines of support and resistance, we find that there is a risk of buying above resistance and selling below support.But according to RSI and Tenkan Sen and Kijun sen, Probability of Buy position is more.For this purpose,We put Buy Stop top of resistance line and put Sell Limit under support line.