Morning everyone 🌞 after a huge reversal last Friday, i don’t think there is much fluctuation in market today, it needs time to absorb selling force last week, so it might go sideway for short term in my opinion. Zone of 1640-1638 is quite tough, it’s a major support level. We can place some sell positions at this moment with target 1640-1638, then wait until the candlestick closes. We got 2 scenarios for this:
+1st: if it closes above 1638, we can start placing some buy orders with small vol to check first and wait for the end of the next candlestick. In case the next one also closes above this zone, then we can place some more buy orders for this with targets 1942, 1945.5, 1950 SL 1936.
+2nd: if it closes below 1638, I’m quite sure it gonna go straight down to the old bottoms 1632, 1627. And of course, we can place sell orders with those targets, SL 1641.5
Remember guys, prediction is just prediction, we don’t have holy grail, so we don’t know what gonna happen in this market in future. There are some red news of currencies for today and tomorrow, anything can happen. So please manage risk as much as possible, taking profit is good but safety first. DON’T BE FOMO !
Good luck guys ! Have a great trading day ahead. ❤️❤️🌹🌹
Jolie Do:
Forex Trading Specialist/ Relationship Manager at ForexCEC - DNBC Global Markets. ForexCEC - DNBCグローバルマーケットの外国為替取引スペシャリスト/顧客関係マネージャー
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