based on the technicals of the 4h and 1h, I would expect this to approach the 0.63000 level once more before falling(asian session). At london open I will be looking for rejection of this level and will begin taking short positions when possible.
Trade active
It looks like that will be as far as we run up. I will be entering my trade now with a 15 pip SL and a 45 pip TP. entry .62752
SL .62915
TP .62293
Also have similar positions on GBPUSD and NZDUSD(earlier in the day it looked like AUDUSD would run the most but now I believe it will be the GBP and NZD that will run)
Trade closed: target reached
With the data that came out, I will remove the TP and let this one run. Most likely targeting .62059 ish.Note
I will be closing this trade manually as I think that is all it is going to run before retracing. Although it looks like we will have another short ready to go by london session.
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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.