As the weekly chart shows, this pair has been rejected multiple times at the resistance zone located between 118.80-116.70 region since early 2018. The best entry was a week ago, but I am hoping for a retracement to about 116.80 or higher that will give me a good entry next week. Target can be located at support below in the low 114 region.
This could be a +3.2R trade, but it requires some patience to see it through this low volatility holiday period.
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As always, please use sound money and risk management in all your trades.
This could be a +3.2R trade, but it requires some patience to see it through this low volatility holiday period.
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.