Opinion: Really like the price action maintaining its improvement. Think price can go much higher.
Recommendation: Long with stops at 1.0875ish.
Stops: Identified an intraday support zone at 1.0880ish which seems like a safe region for stops. Safe meaning that if the price goes below that region, the idea would be invalidated for a small loss.
Risk: A violent rejection from the 1.0918ish Major Resistance Zone.
Opinion on Risk: Don't like buying at the top of ranges, but there has been no dip. The rally is real.
Situation: Long at 1.0905.
Stops: 1.0870ish.
Target: 1.10ish, 1.1090ish. 1.1146ish, and 1.1197ish.
Trade Duration: Days not weeks.
Recommendation on Entry: Scale into position. Maybe add half now and half on a break of 1.0918ish (Major Resistance).
Take partial profits at resistance targets.
Resistance Zones
Major Resistance: 1.0918ish & 1.12ish
Daily Resistance: 1.1001ish, 1.1091ish, 1.1146ish
Support Zones
Intraday: 1.0879ish, 1.0857ish, 1.0829ish
Daily: 1.0795ish
Major Support: 1.0495ish
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