With the USD being weak this pair made a great run. We have now reached the upper SD zone on the daily.
We have a break and close above the 200 EMA on the weekly and a Golden Cross on the Daily.
With the weak dollar it looks as if this pair will continue with longs. My only concern is the 8EMA gap on the weekly that needs to be filled.
It might be that we will see some sideways action here for the week under the SD Zone until the 8EMA has caught up with price action before we see the breakout.
Disclaimer: I am still new to trading and testing my strategies. Not all trades Ideas I post will result in live trades. They might be tested on demos accounts.
Please share your Ideas with me and I am always open to positive criticism.
Remember to use risk according to your appetite.
Thanks for Checking out this Idea.
We have a break and close above the 200 EMA on the weekly and a Golden Cross on the Daily.
With the weak dollar it looks as if this pair will continue with longs. My only concern is the 8EMA gap on the weekly that needs to be filled.
It might be that we will see some sideways action here for the week under the SD Zone until the 8EMA has caught up with price action before we see the breakout.
Disclaimer: I am still new to trading and testing my strategies. Not all trades Ideas I post will result in live trades. They might be tested on demos accounts.
Please share your Ideas with me and I am always open to positive criticism.
Remember to use risk according to your appetite.
Thanks for Checking out this Idea.