Price is grinding higher within a equidistant channel. The preceding move was bullish and I expect a bullish continuation. This expectation lines up with the weak dollar. I expect the current area (the bottom of the channel) around 1.21775 to hold as support and price to move higher.
My initial target would be 1.2330 , if achieved this would provide a 5R trade.
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As always, please use sound money and risk management in all your trades.
My initial target would be 1.2330 , if achieved this would provide a 5R trade.
If you like my analysis, please give it a "thumbs up" and follow me to get immediate notifications.
As always, please use sound money and risk management in all your trades.
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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.