One of the exotic pairs that some people trade. I'm one of them people.
I believe that the US Dollar will be getting stronger, so I think this pair has been oversold for quite a while.
It has also broken it's downward trend line and closed above it. I think this is a good opportunity to go in LONG.
If you want, you can wait for it to retrace a bit and then go in. But, looking at the recent candles, it seems that it needs a good long one. Maybe it will have a nice pop to the upside and then retrace, and then go higher again.
Aiming for around 18.400 initially and then maybe higher.
This is just a simple view on this. You decide.
As always, keep an eye on the price action!
I believe that the US Dollar will be getting stronger, so I think this pair has been oversold for quite a while.
It has also broken it's downward trend line and closed above it. I think this is a good opportunity to go in LONG.
If you want, you can wait for it to retrace a bit and then go in. But, looking at the recent candles, it seems that it needs a good long one. Maybe it will have a nice pop to the upside and then retrace, and then go higher again.
Aiming for around 18.400 initially and then maybe higher.
This is just a simple view on this. You decide.
As always, keep an eye on the price action!
