Swing trading this pair to the historic low it reached on 12th Jan 2015. This is on the back drop of last Thursday's announcement by the Fed Reserve. Once it moves in my direction, am running the trade totally risk free and allow it do its thing.
Expecting the pair to break the SR to the upside, then we take it to the weekly SR.
Expecting the pair to break the weekly resistance and upon the retest for support we take the trade to the monthly SR.
Once it breaks above the support and comes for a retest we take the trade to the upside.
Expecting the price to break daily support and upon the retest of it, we take it to the monthly support.
We will react to the test of the new structure created on the 4 hour to capitalize on a sell trade.
In my opinion UJ will hit the monthly SR and begin a move to the upside, right now we taking it for a sell to hit the resistance
Once it breaks the zone and retest then we taking it to the end of the short rewards