Price failed to close below 1.079xxx on a daily candle and on 4 hr we have a double bottom, after some sideways choppy move it seems like price can head north and try the 1.09xx figure . Hence i would try a long around 1.082-1.083 area with a stop loss below 1.078xx on daily candle closing basis. I favor short in general , would switch to short when price attacks the top of the weekly channel 1.097xx
Note
weekly channel
Note
Price barely touched 1.089xx levels and crawled back as federal reserve chairman rejected the idea of negative interest rates for now
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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.