This trade opportunity will be taken at the market open on Sunday 11th March at 10pm. Based on the daily timeframe we have already identified a series of three lower highs in this current bearish trend and now have potential for a fourth. The current 78.6% Fibonacci Retracement, the Daily Resistance of 0.78525 and a counter trend line retest provides our confluence needed to take a bearish trade on this pair on market open.
Entry price will be close to 0.78500 with a 25-30 pip Stop Loss and a 135 - 140 pip Take Profit, to the market lower low point. The exact price of this trade will not be confirmed until the trade is taken but a 5/1 Risk Reward will be an optimal trade.
Entry price will be close to 0.78500 with a 25-30 pip Stop Loss and a 135 - 140 pip Take Profit, to the market lower low point. The exact price of this trade will not be confirmed until the trade is taken but a 5/1 Risk Reward will be an optimal trade.