Ok, price is clearly on a downtrend.
Again, the green and red lines show prev days highs and lows. Purple lines show areas of sup/res. I normally also draw a fib of the prev days major swing move (pink on my chart)
Purple line shows the low from 10th October and this morning it was clearly holding as a strong resistance level. Was looking for a retrace back to 1.3285 but this res was holding, so happy to short at current price.
08:50 Short 1.3251, stop -100 1.3351
Initial target of around 1.3189 (+62) calculated from 75% of the daily ATR. But will monitor price as it drops as there is no real support levels around apart from fib extensions. We could see a really big move today.
Again, the green and red lines show prev days highs and lows. Purple lines show areas of sup/res. I normally also draw a fib of the prev days major swing move (pink on my chart)
Purple line shows the low from 10th October and this morning it was clearly holding as a strong resistance level. Was looking for a retrace back to 1.3285 but this res was holding, so happy to short at current price.
08:50 Short 1.3251, stop -100 1.3351
Initial target of around 1.3189 (+62) calculated from 75% of the daily ATR. But will monitor price as it drops as there is no real support levels around apart from fib extensions. We could see a really big move today.
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