My favourite trade for this month - Over 1.26733 area I'd look for bullish formation, pattern or daily close for further confirmation of bullish run towards 1.27/1.28 is where the next resistance areas are. Some people say it looks like inverse head and shoulders. However, we need confirmation for it go OVER the trend line - we are finding that a key area. Keep an eye, put alerts or orders in so you don't miss the move. It is a great risk reward move as well as one of my favourite trades - momentum going with trend. However, until we haven't broken we could head lower to 1.25/1.24 areas and any lower 1.23. However, DXY is at a key area at this moment of time. Keep an eye out on EUR/GBP as well.
Just a trade idea, not recommendation.
Enjoy.
Just a trade idea, not recommendation.
Enjoy.