It's pretty simple, it's second entry so check out an initial idea. We want to see if Fibo works))
TP around 110.60(50% correction) with a potential for 100 pips more(61.8% and a volume)
Keep safe and good luck
After a few days of going up(we traded it from 0.7280 in previous idea) i expect some pullback before continuing going north. We can try to trade it with a target of 0.7380.
More conservative play will be using this pullback to go long with a target 0.7450-0.7500
This is how it looks on daily. Keep save and good luck!
I'm expecting headwinds on 0.6750 because of volumes and rejection down from 0.6820(weekly level, MA's, border of channel). So you may go long now or wait for that rejection. Waiting is more conservative trade and best way to do it. We already traded AUD to upside in linked ideas few days ago. It was nice so check it out.
And one more thing... Look how they burned...
We trying to breakout downtrend channel, horizontal resistance and 50 day MA. It's not easy.
Last data suggests that in Britain things much better than in Euro zone but it doesn't reflect in a price. Don't forget Brexit.
BOE has more room to cut rates. Only 2 currencies that i'm buying euro against are GBP and CHF.
Many of you guys already talked about this one today.
I'm looking only for sell and not considering any long positions.
CAD dived after BOC . It was expected and we successfully traded it(previous idea).
Dynamics of oil prices not helping either but i think it's already in a price.
We trading in a range of 300 pips and approaching now to top of this channel....
Last 5-6 trades made a move in oil less painful and I'm considering to add to my longs in oil. News on vaccine, Inventories and RSI are supporting entry.
Conservative traders will wait for confirmation. Target 54.80(under uptrend line that becomes resistance, horizontal resistance and just shy of 38.2% Fibo correction.
They'll meet on 4-5.02. CAD at the bottom after rate decision and CHF on the roof because of a virus. Let try catch the bounce. we targeting 0.7350. Break of 0.7370 area to upside will open the way to 0.7450 in my opinion.
SNB told us last that they won't set a range for CHF but we all know that they will intervene....Technically we have support for this trade (oversold badly)
Stops or additional buying(depends on markets) in 1.06