Price have been in a bearish momentum for a while now. Although it is too early to say, price looks like it is forming a double bottom at this time and if that holds, we just might see a push up towards the 1.27500 area. But then again, it is too early to decide that as price could continue to push lower.
Before I make a trading decision, either bullish or bearish, here is what I would love to see:
Until either one happens, we keep the fingers crossed and wait for the move.
Disclaimer:
All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results
Before I make a trading decision, either bullish or bearish, here is what I would love to see:
- I will go long IF AND ONLY IF Price breaks above the immediate resistance around the 1.25003 area and retests same zone.
- I will short the market IF AND ONLY IF Price breaks below the immediate support around the 1.24507 and retests same zone
Until either one happens, we keep the fingers crossed and wait for the move.
Disclaimer:
All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results