We have successfully longed this pair last week and will continue to long it. You can add to your long from the green and red lines.
Stop loss is 3.5850
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This pair has left the wedge as we have expected last week and will continue to the upside.
Pay attention at the red line and the resistance line.
Stop loss is 3.5950.
Use any new lows to long this pair, To confirm the expected up move, Monday's candle should print a higher high and higher low.
I do not use stop loss for the pair but you can use 3.59 as a stop loss if you like.
This trade is valid for the whole week.
when the price make higher low in the price but the indicator make lower low in this case we are looking for long , if the support point at 360 strong enough
one the way down most likely stops on ( 3.50. )
however, everything depends on the economic issue between China and the USA.
the maximum can get up to 3.65
Further to my chart of yesterday, the trend point has shifted from the resistance zone to a supportive zone on Feb. 14.
Look for longs only and no shorts anymore.
The best longing area is the red line but you can long after breaking the green line.
Stop loss is 3.60. If you cannot afford it, do not take this trade.
This pair is still correcting, however, the trend point may shift tomorrow from its current resistance zone to a supportive zone due to the current up trend for DXY.
I am only watching this pair and might look for LONGS soon.
Technical factors supporting price decline
The pattern of the two peaks forming on the weekly basis supports the downside to the neckline of the pattern at almost 355 levels and is also the target of the 4-hour head and shoulders pattern that has not yet been targeted.
Will the model break the neckline or not?
Firstly : If the neckline breaks, the price will...
