The pair is trading around 1.3900; yesterday it went up to 1.4049 and than down to 1.3900 area; this area was a bottom in in two occasions in the last month: in the first one the rate went up to 1.42, in the second few days ago, it went up to yesterday top; so we are trading in the area of really good support and a fail of it would demonstrate that there is no space for a further bearish movement; in the 4h chart the rate is below the EMA, RSI=39; the stochastik need a small retracement or a huge one; today the G8 start and would be a good idea to follow it really close.
here are some support and resistance:
R3 1.4248; R2 1.4099; R1 1.3999; S1 1.3850; S2 1.3801; S3 1.3652;
my trading plan:
buy 1x unit here @ 1.3901;
stop loss @ 1.3850;
target 1.4000 or higher,
have a good trading day
:D
good trading plan, hoping the G8 meeting will even favour the upside.
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