Here are some key levels to watch for the coming five sessions:
Psychological Barrier, 1.0500
Last Week’s Low, 1.0482
April’s Low, 1.0470
If you’re trading this pair, it’s important to respect the downside of this market. A bearish breakout is possible beneath last week’s low and April’s low. The trading plan:
1) Sell 1.0481
2) Initial Stop Loss @ 1.0559
3) Profit target @ 1.0403, 1:1 risk vs reward
This is a short position trade with the trend. It may also be executed with a 1:2 risk vs reward.
Psychological Barrier, 1.0500
Last Week’s Low, 1.0482
April’s Low, 1.0470
If you’re trading this pair, it’s important to respect the downside of this market. A bearish breakout is possible beneath last week’s low and April’s low. The trading plan:
1) Sell 1.0481
2) Initial Stop Loss @ 1.0559
3) Profit target @ 1.0403, 1:1 risk vs reward
This is a short position trade with the trend. It may also be executed with a 1:2 risk vs reward.