POSSIBLE PATTERN :
- BULLISH PENNANT
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※ DON'T FORGET TO USE TRAILING STOP 5%
※ ENTRY BUY:
- BUY ON BREAK OUT: 1645
- ENTRY BUY AT RANGE PRICE OF 1615 - 1665 (OPTIONAL)
(CLOSEST RESISTANCE TO BE BREAK IS AT 1685)
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※ TARGET PROFIT 1: 1875 (FIBONACCI...
Summary: The news of a possibly effective Covid-19 vaccine jolted currencies in a sometimes confusing way, but beyond near term volatility, the rising promise of an effective Covid-19 vaccine might bring forward the longer term weakening of the US dollar.
Today’s FX Trading focus:
Are we on the cusp of an effective vaccine and what does that mean for the USD?...
So they had a death on the vaccine research and look to be forming a head and shoulder pattern which is typical of a reversal in price, how come the news always comes so in time? the markets are so fascinating.
If the Johnson & Johnson COVID-19 vaccine does well in final phase testing, this could cause the share price to break out from the current bull flag formation, if not we will see a break to the downside.
The price could go either way depending on the results from clinical trials of their Covid-19 vaccine.. so watch this space for confirmation either way.
I am looking for a breath through of resistance, followed by confirmation that the resistance becomes support as a signal to buy the next bull run for Moderna on the daily time frame.
