This weird and wonderful pairing continues to consolidate and range in a 500 pip zone providing us with plenty of intra day opportunities.
I favour sells underneath the 61.8% fib area to retest the absolute lows of the range, so sub 1.63 sees 1.61 in my opinion after the Double Top rejection of the channel and the sell off friday. Plus, the weekly chart shows us 2 strong full candles matching each other before last weeks doji!
For buys, we need to get back above the 50% fib area - so we have around a 50 pip no trade zone between the 2!
I favour sells underneath the 61.8% fib area to retest the absolute lows of the range, so sub 1.63 sees 1.61 in my opinion after the Double Top rejection of the channel and the sell off friday. Plus, the weekly chart shows us 2 strong full candles matching each other before last weeks doji!
For buys, we need to get back above the 50% fib area - so we have around a 50 pip no trade zone between the 2!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.