The pair is in a short term triangle. Yesterday it tested the upper resistance trend line and was rejected strongly. Today it is heading again for the upper resistance trend line which also lies at the 61.8 fibonacci retracement level and the area of R1. A break here would create momentum to the upside and an entry long on a retest of resistance as support. On the flipside, a position short would be favored if there is a break below the short term rising trend line (red) targeting lower support of triangle which lies at S2. Either way, careful consideration should be given to volatility today due to FED interest rate decision.
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