Looking to short this since it has made a retrace back to 0.5 Fibonacci. For safer entry wait for EMA's to cut for short and MACD to remain below 0 which would confirm this is staying bearish.
Target is the low of support at 0.88389 SL is set just above 0.618 Fib around 0.89800 area
@ysmiri, Can't win them all, nice idea, after all technical analysis is just an idea of what MIGHT happen.
olly48
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US retail sales figure was a lot better than expected, USD shot up across the board. Should be a short term effect
RossTyler
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@olly48, price come back into play now, shame SL would have triggered
olly48
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@RossTyler, yeah this pair was slightly more wild than other pairs on that move. That is why it is important to monitor them in real time before entering a trade and making sure the signs are there that the price is going to turn
RossTyler
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@olly48, Idea was correct, just didn't work out, next one could. I don't use analysis or try and work out signs anymore but appreciate the work 👍