5:26a GMT - And boy did they come out swinging! The pair dropped over 200 pips yesterday (wow), the single largest move in a couple of months. The uptrend had been so calm recently you could almost feel the big break building up. Does this mean more volatility will return to the pair? We will have to wait and see, but it could mean we've reached a point where the dollar bulls won't sit on the sideline any more and we might see some more range trading. Signals for Tuesday are mixed after the incredibly bullish day and I will look for good candlestick entry points near support and resistance, though I have a bearish leaning. Remember to always use good money management and never trade more than you can afford to lose!
Trading Idea: Look for candlestick entries near support/resistance (red lines on 4h chart below). I will especially be looking for short opportunities near resistance at 1.4950 with short targets at 1.4915, 1.4880 and 1.4845.
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