First post in a while,
Start of the week could be interesting for this pair. Really on the fence so will be keeping a close eye before entering. Heres my thoughts for both long and shorts;
Long: Simple on this, bullish trend line has held from a good week for the US Dollar and could be a sign for things to continue over the coming weeks. If so 0.71 and beyond would be the aim to try bring back the levels of Q1 of 2019.
Short: In my opinion the more probable direction of the price. A head and shoulders pattern looks to have formed (marked with my terrible artwork) with the neckline broken. Thinking that the bull trendline will break and will bounce from the flipside downwards towards 0.67.
Will try keep updated with any entries made!
Start of the week could be interesting for this pair. Really on the fence so will be keeping a close eye before entering. Heres my thoughts for both long and shorts;
Long: Simple on this, bullish trend line has held from a good week for the US Dollar and could be a sign for things to continue over the coming weeks. If so 0.71 and beyond would be the aim to try bring back the levels of Q1 of 2019.
Short: In my opinion the more probable direction of the price. A head and shoulders pattern looks to have formed (marked with my terrible artwork) with the neckline broken. Thinking that the bull trendline will break and will bounce from the flipside downwards towards 0.67.
Will try keep updated with any entries made!