The plan from here is straightforward. Any retest of the 1.2420 area as new support could produce a favorable buying opportunity. I’m going to stand aside and let the pair mean revert before watching for bullish price action from the 1.2420 area.
As long as buyers keep prices above the 1.2420 mark on a daily closing basis, 1.2770 is the target. Alternatively, a daily close (5 pm EST) back below 1.2420 would negate the short-term bullish outlook.
Source: bit.ly/2xBMlFJ
As long as buyers keep prices above the 1.2420 mark on a daily closing basis, 1.2770 is the target. Alternatively, a daily close (5 pm EST) back below 1.2420 would negate the short-term bullish outlook.
Source: bit.ly/2xBMlFJ