The price has reached the 38.2% retracement on the 4HR Timeframe, which has nicely come into line with our 100MA... Perfect!
If price decides to break and close below the 38.2% and 100MA, look to sell and target 200MA and or 61.8%. If it doesn't break the 100MA look to buy!
Please give me your opinion on this trade.
Some fundamentals:
1.Stock are back at their recent highs today
2.Pound is one of the weakest currency of today
3.Dollar is the strongest currency of today
**Manufacturing PMI for USD will be released tomorrow**
Trade with caution!
Many thanks,
-L
If price decides to break and close below the 38.2% and 100MA, look to sell and target 200MA and or 61.8%. If it doesn't break the 100MA look to buy!
Please give me your opinion on this trade.
Some fundamentals:
1.Stock are back at their recent highs today
2.Pound is one of the weakest currency of today
3.Dollar is the strongest currency of today
**Manufacturing PMI for USD will be released tomorrow**
Trade with caution!
Many thanks,
-L