I am currently watching this pair over the next few weeks. this is a trade short Idea which hopefully should happen soon. I currently see price has formed an inverse head and shoulder patters but the current neck line is proving difficult to break on the supply zones of 1.00700 region. but with current trade talks and the ZXY index looking weak think we should see a break above the supply zones for the inverse head and shoulders to complete. This is were I will be looking to place some short orders at the 1.03000 supply zones with targets at 0.98000 handle.For now its all about patience and not going to short this pair at this level due to the inverse headed shoulders I see ( based on my style of trading ). I could be wrong but either way I have no risk exposed on this pair at the moment but orders placed are currently sitting at 1.03000
Comment:
price almost at my entry. this has taken a very long time but patience always prevails. short positions being placed now and waiting for orders to fulfil.
Trade active:
analysis playing out as expected. stops loved to entry at peak. targets almost reached at the 0.98000 level.
Trade closed: target reached:
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