The pair is still strong, the trend is bullish and right now is preparing for another run on the upside; Now since I want the trend to be my friend...I will not play against it; My expectation was an inversion of the trend in the next couple of days, or at least a correction to 1.4000 area...but I will wait a little bit longer; I had a short position and I close it right now; I made also few pips :D
I will wait at least the first support is broken; or I will stay out...
here are some support and resistance:
R3 1.4711; R2 1.4478; R1 1.4389; S1 1.4156; S2 1.4012; S3 1.3779
to be clear if the ECB will decide to buy 60 billion of covered bond for sure the pair will have a correction that may find the support of some long covering...it may bring the pair back to 1.3720 area... but it is too risky right now;
I will see during the day if some news may at least help to play this game.
No trading plan for the moment;
I will wait for an opportunity to short the pair and right now I do not feel a good idea to open a new long position.
Have a good trading day
:D
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