Daily Outlook: We continued chasing support and resistance lines around yesterday (light gold lines on chart below) looking for swing trades as the pair zig zagged through its price action. Neither the primary or secondary trades were triggered as the pair only very recently came down to support.We have just established a long on the recent bullish break of support (blue line on chart below) and will look for a few long pips on a retracement until a better short opportunity comes up as we are more bearish on the day given the recent downtrend.
1h candlesticks continued to perform very well yesterday, especially the bearish signals:
Trading Idea: As mentioned above we are already long on the bullish break of the blue falling resistance from 1.3695 targeting 3715, 3740, 3770 and 3795 for 100 pips potential.
We are overall more bearish on the day however and will look for a new rising trend support to form for us to get short when that support breaks, or on solid 1h candlestick signals.
Same poll question as yesterday - lets see if opinions have changed!