This pair is one of the few trending pairs at the current time. I usually avoid trading in consolidation phases, some traders benefit from opportunities of repeated patterns in consolidation areas which I personally avoid.
Moving Averages:
The pair is trading above the 200 and the 100 daily moving average, suggesting further bullish momentum to the upside.
2.00 key round nuumber
Prices had to test the significant 2.00 key round number several times before it could break out and finally form a clear uptrend with little choppy retracements as seen in the chart. Clearing the 2.0000 round number takes us to clear other round levels.
Short term
On the Short term I am targeting the 2.100 round level.
On the long term
This pair may reach 2.50 by year end.
BUYING @2.07497
STOP LOSS @ 2.06456
TAKE PROFIT, I don't set take profits I just leave prices to move and I trail my stop loss accordingly, using Fib retracements.
Moving Averages:
The pair is trading above the 200 and the 100 daily moving average, suggesting further bullish momentum to the upside.
2.00 key round nuumber
Prices had to test the significant 2.00 key round number several times before it could break out and finally form a clear uptrend with little choppy retracements as seen in the chart. Clearing the 2.0000 round number takes us to clear other round levels.
Short term
On the Short term I am targeting the 2.100 round level.
On the long term
This pair may reach 2.50 by year end.
BUYING @2.07497
STOP LOSS @ 2.06456
TAKE PROFIT, I don't set take profits I just leave prices to move and I trail my stop loss accordingly, using Fib retracements.
