Recap: Our long was triggered yesterday at 17:45 on a resistance break, which got 20 pips into the profit. The entry candle then closed below our resistance (false break), which caused us to close the long for a 20 pip loss.


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Trading Idea: We are bearish on the pair fundamentally as the high risk events in Europe and across the globe should drive demand for the USD, but we are still tracking a nice falling resistance on the oversold hourlies and will look to get long on a resistance break with targets at 20/20/20/20 for 80 pips.

We will look to close and get short on a support break with the same targets.