The pair is trading @1.4120; yesterday after a test at area 1.3840, failing do break it went up to 1.4100 area; a strong resistance is @ 1.4220 area; as support I see the area 1.3975-14000; for sure yesterday movement mean that the market is expecting a continuation of the Federal Reserve quantitative easing; a decision in that direction my move the rate to test 1.4330 area; a surprise may move it down to 1.3850 area again, or lower; there should be a lot of volatility; I am expecting the rate to follow up untill it will be clear what is the Federal reserve decision; most probably the bull is back; RSI is bullish; stochastic is bullish; pair trading over the EMA and in the upper bollinger band;
here some support and resistance:
R3 1.4587; R2 1.4307; R1 1.4213; S1 1.3933; S2 1.3747; S3 1.3467
my trading plan:
buy 2x units @ 1.4114(now)
stop loss 1.3933;
target 1.4220 or 1.4300 and over (follow today news)
have a good trading day
:D
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