The pair is trading @ 1.4158; after the top at area 1.4160; the pair retraced to 1.4060 area, or by 23%; and now it is probably going to test 1.4340 area; last week data were in favour of a rounding up to 1.50 for this pair; today we do not have any special data release, so I think may be the perfect day for an up move, also tomorrow nothing special will be released; in the 4h chart we can see the RSI @ 65; the stochastic is supporting a bullish movement; the pair is trading higher than EMA level; and it is trading in upper bollinger band with a diminished variance in the last 24 hours; all those are good premises for a strong bullish movement;
here are some supports and resistances:
R3 1.4326; R2 1.4226; R1 1.4191; S1 1.4092; S2 1.4026; S3 1.3926;
here is my trading plan:
buy 1x units now@ 1.4153;
stop loss @ 1.4124;
target: 1.4250 and after 1.4340 area;
have a good trading day
:D
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