Potential long setup. Target zone: 2.1599–2.1645. The pair is in a medium-term uptrend, so the most logical approach is to trade from the long side. A solid consolidation has formed over the past few days. If the price breaks out to the upside, I’d consider entering a long. This scenario would be invalidated if the price drops back to the support level of the consolidation.
Trade closed: stop reached
The consolidation extended, and price broke below support again, triggering the invalidation level.
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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.