Price has just pushed above our key weekly zone after briefly pushing below. This could pop price short term if shorts are caught offside here. Trade Scenario 1: Bullish – For us to go long we want to see price retrace back to our key weekly level of 1.2120. We will then look to enter on strong bullish setups off this level, first targeting 1.2160. Trade Scenario 2: Bearish – For us to go short we want to need to see price below our key weekly zone with conviction. We will then wait for a retrace and for 1.2120 to flip as resistance.



more…

READ  Bearish setup of EURUSD on Daily for FX:EURUSD by JICPT