The pair is trading @ 1.4185; yesterday it went up from 1.4144 to 1.4248; only 100 pips...also today we do not have any data release; but signals may come from Fed Chairman Bernanke Testifies; in the 4H chart the rate is retracing, but it is still higher than the Ema and it is trading in the upper bollinger band; the RSI is at 67 and the stochastic is retracing; the open interest was largely up this morning; 100 pips are a small movement for a trend that want to start, but all other indicator are suggesting that the pair may move higher, probably it will test 1.4350 area today;
here are some support and resistance:
R3 1.4400; R2 1.4296; R1 1.4241; S1 1.4137; S2 1.4088; S3 1.3984;
my trading plan:
buy 1x unit now@ 1.4197;
stop loss @ 1.4137;
target 1.4350 area
have a good trading day
:D
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