Hey Traders!
Got a bit of a challenging one for us today. The market's been on a steep downtrend, but recently, it showed signs of upward movement after the release of somewhat positive PMI news for the dollar.
Despite these dynamics, I'm sensing a potential drop of 60-100 pips. The currency is hovering around a monthly pivot line, and the 200-day moving average is looming over the daily timeframe. These factors alone make a compelling case for entry. It's a tough trade, no doubt, but too intriguing to skip. My take? Go for it, but consider trading with a smaller lot size. Remember, this is a pullback trade, so we're not fully in sync with the trend 📈✅
Got a bit of a challenging one for us today. The market's been on a steep downtrend, but recently, it showed signs of upward movement after the release of somewhat positive PMI news for the dollar.
Despite these dynamics, I'm sensing a potential drop of 60-100 pips. The currency is hovering around a monthly pivot line, and the 200-day moving average is looming over the daily timeframe. These factors alone make a compelling case for entry. It's a tough trade, no doubt, but too intriguing to skip. My take? Go for it, but consider trading with a smaller lot size. Remember, this is a pullback trade, so we're not fully in sync with the trend 📈✅