I've personally closed my position as I'm unsure of how much momentum the push has to reach or exceed R19 overnight here in South Africa, however I won't be losing sleep over the last few pips of the move should it complete its trajectory, I am not a fan of the candle forming on the H4 (I acknowledge I get more skittish as the trade approaches my target) and would...
The US unemployment claims were at 5,245K as opposed to the forecast 5,105K, down from the previous 6,615K. The deviation from the forecast being so low would mean this potentially bad news has not affected our long position as greatly as it could have. I have also identified a descending channel that's much more visible on the H1, this might have been a necessary...
There is some consolidation happening around the current zone, however there has been no strong bearish rejection from the zone as yet and no worrying divergence happening at the moment. The turnaround could still happen and the turnaround line I've drawn in represents the point at which I'd close my long position (temporarily) should it be broken by the breaking...
Hey,
Just mapping out some ideas about what could happen with this pair over the next few days and weeks.
Would prefer the longer term option which is obviously long just need a reason to get it and preferably lower, much lower.
T$
