The pair is trading within a channel and has now hit reached the top of channel which also coincides with resistance.
Enter short if weekly candle ends in an engulfing pattern for reversal.
Target 100 pips or to bottom of channel.
Pair has been in channel since DEC 2015
Now broken out of channel so good entry for long on this pair
Looking at a big target of 500 pips
Its on a weekly chart so will need to be patient...
Going in small lot.
SHORT opportunity at previously rejected price zone.
Price is at lowest levels since 2009 and looking to stay below reversal zone at 1.3500 and test 1.2800.
Currently in a bull channel.
Good entry for SHORT after price break out and down of channel.
LONG opportunity at pressure point previously reject this price zone 4 times already.
Has formed a bear channel and almost broken out.
Good entry for LONG after price break out of channel.