After a very strong bullish run from the Swiss over the past few days, I am looking for a retracement to the 1.000 area. We have breached 2018 highs, and a retracement would be very healthy.
I am targeting the 1.00 region for multiple reasons:
- Key support/resistance price area
-Looking at the fib retracement - this correlates with the 61.8% fib retracement area
-We ARE still in a bullish uptrend if we do not BREACH this 1.000 level - on the higher time frames we would still be in an uptrend.
Happy Easter and Happy trading :)
I am targeting the 1.00 region for multiple reasons:
- Key support/resistance price area
-Looking at the fib retracement - this correlates with the 61.8% fib retracement area
-We ARE still in a bullish uptrend if we do not BREACH this 1.000 level - on the higher time frames we would still be in an uptrend.
Happy Easter and Happy trading :)
Trade closed: stop reached:
As we have BREACHED the trend line and broken out above, I am looking to enter a short at 1.245 region now. A lot of strength behind the Swiss right now. However, USD could be strengthening this week so something to look out for.