The daily candle formed a strong bearish engulfing candle which confirms the sell set up posted yesterday. An expected 50% fib retracement is likely to occur which means you can get in on this trade even if you missed yesterdays entry.
You could guard this trade by moving your stop loss to break-even as I am if you caught yesterdays entry. Stay with this trade as this pair moves slowly and the target area of 0.65800 is where I expect price to congest next - profit taking will likely be at this level if the pair struggles to make new daily lows.
You could guard this trade by moving your stop loss to break-even as I am if you caught yesterdays entry. Stay with this trade as this pair moves slowly and the target area of 0.65800 is where I expect price to congest next - profit taking will likely be at this level if the pair struggles to make new daily lows.
