Our view ahead of ECB rally as expected.The single currency took out the resistance at 1.1650 and trade to our target at 1.1720. Due to overbought condition in the market,the single currency gave us another opportunity to short the pair around 1.1715-20 area down to the current price at 1.1622 area.
immediate support remains at 1.1600,break of this point should target 1.1500 area.
on the upside, 1.1650-70 area is needed to be cleared to target 1.1720-70 area.
we should closely monitors the price action within the triangle on the daily chart for a break out on either side.
make use of the comment box below to ask any question bothering you on this pair. do well to follow us on email to get trading updates as soon as posted. do have a wonderful week ahead .
your trading success is my joy.
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