Thoughts on this? Last key area to test where there are likely to be an influx of buyers
Daily resistance holding strong.. Further downside? Multiple daily rejections and a strong bearish closure
USDCAD - Pullback to 130.000 then 131.000? Heavy CAD news could see this pair fly. Regardless of the pullback I would look to take a Long position
Start of the pound recovery? Possible idea if 134.000 breaks
EJ - Pullback then 128.000? Failure to close below the previous low could result in a bit of a pullback before seeing 128.000
Simple break, retest and continuation? Clean Charts is a must. Trade what you see and not what you think! Either way, the risk management is there
Reasons to look at potentially going short; - Third touch of descending trendline - 61.8 fib retracement - Back testing Short term support now possible resistance - Heading towards dynamic resistance (200MA) Things to consider before; - A lot of buying pressure over the last few days (2 of 3 Strong Bullish Candle closures) - DXY looking bullish, Could see some...
Comment thoughts
1.60 Previous resistance and support level