The pair has reached a 2 years low (0.6200).
There are two scenario's that I will be following.
Scenario 1 Long
To trigger a long entry there are a few thing I wish to see before I enter go long.
1. Break of the down slopping trend line around 0.6300 level
2. Creation of new HH and HL (New up-slopping trendline)
3. Break of the resistance level at 0.6350
4....
This are the scenarios I will be following in the incoming 2-4 of weeks.
GU has touched the 1.2500 support level for the second time in the last 30 days.
1.2500 it's an important level for the pair, as if it breaks down the next target level is the 8 months old 1.2300 level which is also the 100% retracement from the previous HL/HH.
Scenario 1 Lon g:
I will be...
