The big December rise broke the short term support level which essentially brought a new short term resistance level (1.08 level), to kick 2016 off this resistance level was broken however we have since risen back up to the trend line with decent bullish momentum. A bullish close above the trend line this week will probably lead us to retest a level around 1.0950 where I will personally be entering.
I'm looking to hit around the 1.1300 level and I will be placing a stop loss at 2016 lows.
I'm looking to hit around the 1.1300 level and I will be placing a stop loss at 2016 lows.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.