A quick look through the charts before shutting down for the weekend and I saw that this pair has now broken and closed below the neckline of a H&S pattern on the hourly. Looks like the comments earlier in the day out of the ECB might have stirred the pot a little. This pair has had quite a rise recently, could this be the start of a reversal of trend? or simply a bit of relief?
Either way, if we make it back up to re-test that neckline, I fancy the short side if my RoE are met. Personally, I'd like to see it come back up and touch the 0.9200 level before potentially rolling back down in the direction of the most recent 127.2% extension. One to keep an eye on next week.
Have a great weekend!
Either way, if we make it back up to re-test that neckline, I fancy the short side if my RoE are met. Personally, I'd like to see it come back up and touch the 0.9200 level before potentially rolling back down in the direction of the most recent 127.2% extension. One to keep an eye on next week.
Have a great weekend!
Trade active:
Entered Short @ 0.9210
Trade closed: target reached