Nice simple trendline break and trend reversal trade.
You can see the previous bearish 4hr trend and trendline has been reversed with a higher high made and now a higher low forming on the 4hr chart. If this new low holds then I can see price climbing up to 108.800/109.00 levels.
0.50 Fibonacci retracement level held strong on this last pullback and strong USD momentum seems to be coming in right now.
You can see the previous bearish 4hr trend and trendline has been reversed with a higher high made and now a higher low forming on the 4hr chart. If this new low holds then I can see price climbing up to 108.800/109.00 levels.
0.50 Fibonacci retracement level held strong on this last pullback and strong USD momentum seems to be coming in right now.
Trade active
Note
Nice bullish momentum now, Price approaching recent highs @ 107.760Note
TP1 reached @ 108.00. Taken some profits, this trade is now risk freeNote
Lower high forming at resistance this morning. I would lock in some more profits right now and await the next momentum move.
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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.