As the pair approaches 1.12 level and a 3rd touch on the downtrend line, also 200SMA, resistance is quite strong and catching a short trade on the bounce offers great risk reward. For more confirmation we can wait for the break of the uptrend line.
For a buy trade, a strong break is required to the upside. Best to wait for the break on strong data, retest for additional confirmation.
Now that Christine Lagarde is ECB president, her first policy meeting in December could set the new tone for the euro or at least show her policy stance.
Good Luck!
For a buy trade, a strong break is required to the upside. Best to wait for the break on strong data, retest for additional confirmation.
Now that Christine Lagarde is ECB president, her first policy meeting in December could set the new tone for the euro or at least show her policy stance.
Good Luck!
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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.
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.