Our next area of support comes via our red box, this area has been used as very strong support and resistance in the past and this pairing respects key levels very well, this is a very good pairing to study if you are new to trading.
So where our next support level lies price should also meet a strong trend line, we will be watching price very carefully around...
Short opportunity, you can see price has touched our resistance line a number of times ( purple arrows ) price is currently at this level now and we can only see downside movement... so get on it and thank us later :p
We have a lovely support/ resistance level that has been respected many times ( orange arrows ) and also a lovely trend line ( TL ) that also has been respected many times, price is currently at both of these levels and when you add in the current weakness of the USD this makes this trade setup a triple threat, so we can only see further upside movement.
If you...
Key resistance 145.792 - Price has been respecting this level historically, it has also been respecting a trend line over the past few weeks but once price broke out this trend line price shot up.
Now price is coming up to retest our strong resistance, and price WIL bounce and make a big move to the downside.... you heard it here 1st ;p
