Confluences for Trade: - Pegged currency, strongly defended at 7.85 (Limited risk; any break above the 7.85 levels is gonna be a crisis issue) - Stochastic Overbought momentum - Not directly related but Double Top Resistance for the DXY, helps support the drop in USD strength
Suggested Trade: Entry @ Area of Interest 7.8365 - 7.8499 SL: 7.8573 TP: 7.7935 RR: Approx. 2.91 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
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Take profit on half the position and move SL to BE.