This is strictly a technical play off that multi year support after a quick test and bounce.
We bought it on the close, we have a SL below the lows. 100 pips or so.
It is unusual for me to take a trade like this but the after the election euphoria, we are still straight back to BREXIT Divorce and then 12 months of trade talks discussions and then implementation.
I am holding 40 pips profit from Friday with a total risk of around AU$1,000. If the trade completes, it will be AU$19,000
Close half at FIB retracement target and...
Note : Congrats!! i hope you have also secured profits from my previous analysis (link below) ... enjoy
Plan : simple, just wait until the price breakout trendline resistance ;)
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment...
We took the buy with the hope of reaching the top but the market failed to reach the highs. so its necessary to correct why market did not get to the high.
The Euro vs. the British Pound. This pair represent a cross between the two largest economies in Europe, the Euro Zone and the Unites Kingdom. The pair is greatly less volatile than other Euro or Pound based crosses because of the economic closeness and interdependence between the two. Changes in monetary policy between the Bank of England and the European Central Bank can make this pair extremely sensitive.
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