Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1, H4 and H1 time-frame. D1 is also entering Overbought Conditions.
- Price action is at last month's Resistance Trendline
- Price action is in a Consolidation zone
- Targeting the 38.2% Fibo retracement
Fundamental Confluences for Trade:
- ECB plans to cut interest rate next month...
Another Forex Trading Snack!
I know! It’s been lagging the moves of the S&P stock index when it’s been a great risk on or risk off dance partner. Where has the partnership gone?
This 109.70 resistance zone has held price from advancing when stocks have been screaming higher throughout the Christmas rally. I don’t believe in straight line moves move on for ever!...
