This support goes back into October 2016 and has held after being tested and briefly broken a few times. Major support still lower and a stop below 1.315 makes sense. Easy to have a target of 1.37+ with stop of < 100 pips.
Trade active
Daily close above the line so its not looking too bad... yetTrade active
I've been scalping in this tightening area. The BB mid line on 4hr chart (20, 2) and the support line are squeezing price. I am ready for a break lower still and anticipating BOC shift away from hawkish tone next week.
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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.