With nothing on the economic calendar for either of these currencies today it opens the door for a technical move lower. We spent a considerable amount of time hovering below the 50% fib pullback (0.85756) and didn't find any buyers to bring us higher so with nothing notable today we could see some selling push us lower.
We have an upward slopping trendline that could be used to determine an entry or potentially entering at market now with stops above.
Price is finding resistance below the daily pivot so my plan is to initiate this trade during the London session if favorable conditions presents itself.
Minimum and secondary targets listed in the chart with stops being fairly obvious.
Regards
We have an upward slopping trendline that could be used to determine an entry or potentially entering at market now with stops above.
Price is finding resistance below the daily pivot so my plan is to initiate this trade during the London session if favorable conditions presents itself.
Minimum and secondary targets listed in the chart with stops being fairly obvious.
Regards