Lots of resistance for this pair. This would be a great entry to take 1/2 off around 0.67398, move the stop to B/E and let the rest ride. Entry is well justified and could *very optimistically* lead to a retest of .62000. If defined resistance areas are broken, expect new highs and look to re-short at a better price.
Note
Got stopped out of initial position but was able to re-enter at a better price. I would imagine price would have retested yesterday's low if it weren't Friday. Though, because today's drop was barely faded, I wouldn't be surprised if there was another sharp move down between 4:00-4:30 EST today. At the very least, I expect price to retest .6700 before any meaningful move to the upside. The retest of .6700 should happen by Wednesday at the latest.Note
Though I made a small profit, I got stopped out of my most recent position on this pair on the U.S. core durable goods news this morning just after 8:30am EST.
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.
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.