Lately the pair have been in a ranging structure. After a nice crash, we see the bulls are pushing the market back. Our support line is at 78.790. If it breakout, we'll look to buy with a TP: 81.0 & SL: 77.20.
If the market continues to remain in a range structure, we could look for a sell back into our resistance region for another pullback. Either buy or sell we have 2 options. You can wait for a pull back to come around. If you wait, your fish to reward ratio will sky rocket. If you enter immediately, you don't get left behind by the market, but the risk is more. However we're looking at a series of ranges so we'll watch this one close, but not too close, but close enough.
If the market continues to remain in a range structure, we could look for a sell back into our resistance region for another pullback. Either buy or sell we have 2 options. You can wait for a pull back to come around. If you wait, your fish to reward ratio will sky rocket. If you enter immediately, you don't get left behind by the market, but the risk is more. However we're looking at a series of ranges so we'll watch this one close, but not too close, but close enough.