Had some success on this pair last week.
1) US Stimulus expected next week
2) Surging COVID cases likely to see safe haven upside (this is somewhat ironic given the US is experiencing record gains when compared with places like NZ!)
3) As per the trades last week - the pair is hovering around a mid term area of resistance - this always makes for more attractive risk to reward ratios
NB - While I am looking for shorts, I will await price action confirmation
1) US Stimulus expected next week
2) Surging COVID cases likely to see safe haven upside (this is somewhat ironic given the US is experiencing record gains when compared with places like NZ!)
3) As per the trades last week - the pair is hovering around a mid term area of resistance - this always makes for more attractive risk to reward ratios
NB - While I am looking for shorts, I will await price action confirmation
Note
As per my above comment we didn't enter this trade (apologies for leaving the long position on).However we noted down 0.65890 as a potential nice entry - price is fast approaching this point - so we will be watching this closely today.
Note
Apologies for leaving the *SHORT POSITION* onTrade active
in for a short @ 0.65890The move up was impulsive, we have a tight stop (SL 0.66159) in place as USD is showing weakness so far this week.
Like many pairs, this is at a point of long standing resistance on the daily so this makes for an attractive RR set up of 3:1
Trade closed: stop reached
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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.