I'm looking to fade this rally based on the above information. I'm going to let this trade run its course, and trail 50% of my position to the moving averages, if primary target is hit. The next support is highlighted in the smaller area between 1.285 and 1.29. This is where I will watch for any reversals.
Of course, if it doesn't work out. I get stopped out and then we either stay in a range for a bit longer, or continue higher (if USD breaks down further).
Of course, if it doesn't work out. I get stopped out and then we either stay in a range for a bit longer, or continue higher (if USD breaks down further).