After several days of consolidation, EURUSD finally broke the consolidation range yesterday with a tight asian trading range of 30+ pips today. As can be seen from the H4 chart, price is currently hovering above 23.6% fibo level. Both H1 and H4 are still in uptrend while M15 has the 100 and 200 EMA crossed down, indicating a short term down trend.Trading Plan for the day:
1) Long if price is supported by 1.4338, short if price penerates below and 1.4338 become resistance
2) Long if price breaks above and supported by 1.4367, short if price close below the level
Note: Today is non-farm payroll announcement, hence the trading range is most probably limited till the news
No comments:
Post a Comment