1.20000 is a lovely buy area for me, this has been used as a key support and resistance level historically and will be used many times again as it is a nice round number.
On December 1st 2020 price broke through this level which was acting as strong resistance! Price has not since come down to re test this level as support which i think price is on its way to do now. More than likely when such a strong level like this does break we will get a retest of that level before a bigger move in the direction of the break.
Personally i wouldn't sell down to this level but would wait to see if price does reach 1.20000 before placing the buy, just be patient! Jumping into a trade in no mans land is never a good idea at all.
USD is doomed and will only get weaker as they print more money! For this reason i am in a fair few USD sell swing trade positions.
If you would like to know more about the way i trade then come have a chat and i will be happy to help you!
On December 1st 2020 price broke through this level which was acting as strong resistance! Price has not since come down to re test this level as support which i think price is on its way to do now. More than likely when such a strong level like this does break we will get a retest of that level before a bigger move in the direction of the break.
Personally i wouldn't sell down to this level but would wait to see if price does reach 1.20000 before placing the buy, just be patient! Jumping into a trade in no mans land is never a good idea at all.
USD is doomed and will only get weaker as they print more money! For this reason i am in a fair few USD sell swing trade positions.
If you would like to know more about the way i trade then come have a chat and i will be happy to help you!