Remember my previous outlook that I did on it on Monday? So... Still waiting for that SELL moment. Or at least I am hoping for it.
There are many views out there at the moment on this pair and everyone, to be honest, analyses it differently. This is my interpretation.
On my charting, it has broken and closed below the 1st trend line. Now what I am hoping for today is a break and close below the 2nd trend line. It might happen or it might not. Remember, today's the NFP day, so different nonsense can happen. Either way, you can take a position now or later, you decide.
At the moment, I am aiming for a break and a target of around 131. Aggressive, but possible.
Now, don't get surprised if the NFP won't drive this, as, gues what, there's no US Dollar in this pair. I still am a strong supporter of the Yen strength (for now, as I mentioned previously).
If you want to enter a position here, you can do it. But with a careful stop, so that it wouldn't wipe your account, if it goes against you.
As always, keep an eye on the price action!
There are many views out there at the moment on this pair and everyone, to be honest, analyses it differently. This is my interpretation.
On my charting, it has broken and closed below the 1st trend line. Now what I am hoping for today is a break and close below the 2nd trend line. It might happen or it might not. Remember, today's the NFP day, so different nonsense can happen. Either way, you can take a position now or later, you decide.
At the moment, I am aiming for a break and a target of around 131. Aggressive, but possible.
Now, don't get surprised if the NFP won't drive this, as, gues what, there's no US Dollar in this pair. I still am a strong supporter of the Yen strength (for now, as I mentioned previously).
If you want to enter a position here, you can do it. But with a careful stop, so that it wouldn't wipe your account, if it goes against you.
As always, keep an eye on the price action!
