Technicals: We have a good opportunity here to break the trendline as the triple top formation failed with heavy resistance at 1.265XX There is bullish sentiment on the 4hour, but daily we can still a nice range here - it is shaking out alot of investors which is good for liquidity grabs and flow of funds between the players. We are playing the supply and demand here between bulls and bears. This is all that matters.
for this trade however we are in short. Add sell positions if a fakeout of the retest of the breakout to create a lower low.
Fundamentals Coronavirus in the EU and UK - both showing cases in respective countries, Euro stimulus package has not been agreed so can show signs of strength of GBP if this fails to transpire. Brexit talks - will send the pound with huge strength once a deal is reached - inverse will send EUR to almost parity if talks end and no deal is reached Keep a watch for manufacturing orders in Germany and any causes for concern within France, Italy, Germany and Spain which can drag data components down. Vaccination attempts to drive market sentiment. USD safehaven upon tensions between HK move on China vs USA debate. USA - cases in multiple states are high risk, the disconnect is unbelievable.
Why follow us? Updates on our pairs as and when we can. Swing trade out looks 10 years combined experience in capital markets simple breakdowns for beginners to advanced . KISS - keep it simple stupid. we trade purely from naked charts, less indicators - remove the noise.
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Comment
trade 1 is closed in profit - took profit before our target +65pips Trade 2 still open, until the next retest and sign of rejection, risk free so if price reverses, allow enough pips for slippage and fees
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