We are looking back at the plans that I made from last week . This plan shows some progress. When targets are hit, it makes the market easier to digest and bring some clarity to the price action.
The pair acted well against the first series of resistance points at 1.1675 and five pips above. Supportive levels below were tested and price to the middle which is in my opinion a strong decline in this time frame. There was enough demand at the support levels to bring it higher and break above trendline. The dollar index is showing just a slight amount of strength. There was not much news to drive the market in either direction for the foreign currencies. But every time I entered a short position they were at increments slightly lower. I do have a protective stop above, but if 1.16216 gets violated cover and set lower targets. The range is between 35 to 40 pips on the highs and lows.
No comments:
Post a Comment