Price has consolidated between 1.19100 and 1.8800 after finding dynamic support rebounding off the monthly EMA. Price has also so far been unable to close below the 0.618 fib retracement level and formed wicks around this level. Looking for bullish momentum and close out of the consolidation zone with a 1HR cross on the EMA.
If we get this we will target the previous high of 1.19900 followed by 1.20300
Stop will be placed in the 1.18800area below market structure
If we get this we will target the previous high of 1.19900 followed by 1.20300
Stop will be placed in the 1.18800area below market structure
Trade active:
long
Comment:
move stop into profit