Potential Bullish Continuation
As we analyze the charts, we can see that the highest timeframe is affecting our overall analysis. If we look at the weekly chart, we can see that there is a bullish run. This means that we should look for a buying opportunity on the 1-hourly chart. Our preferred entry price is at 1.0550, with an initial stop-loss at 1.0521 (-29pips) or -290usd/lot. Our target 1 is at 1.0614 (+64pips) or 640usd/lot.
However, if we see that the daily chart is our highest timeframe, we should look for a shorting opportunity as a trend trading opportunity. The possible selling price is at 1.0631, with the initial stop-loss at 1.0663 (-32pips) or -320usd/lot. Our Target 1 is at 1.0502 (+129pips) or 1,290usd/lot.
It's important that we do our own independent analysis and plan our own trade. By doing this, we can take advantage of the opportunities presented to us and make the best decisions for our trade.
However, if we see that the daily chart is our highest timeframe, we should look for a shorting opportunity as a trend trading opportunity. The possible selling price is at 1.0631, with the initial stop-loss at 1.0663 (-32pips) or -320usd/lot. Our Target 1 is at 1.0502 (+129pips) or 1,290usd/lot.
It's important that we do our own independent analysis and plan our own trade. By doing this, we can take advantage of the opportunities presented to us and make the best decisions for our trade.
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Live session & Trading Tips on the GO
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