Long
simple long setup
High risk as it got rejected at high near 1.29 and now has a selling momentum going downward.
Reason: It got bounced from key support around 1.2742 during Asia session and if it maintains above the level, it should create a mini double bottom possibility to support the pair to go back higher.
SL: below 1.2742
TP: fib based. Immediate target to just below 0.5 fib recovery at 1.2815
Expected Pips: 20 - 60
Expected Timeline: Max 1 day
Reason: It got bounced from key support around 1.2742 during Asia session and if it maintains above the level, it should create a mini double bottom possibility to support the pair to go back higher.
SL: below 1.2742
TP: fib based. Immediate target to just below 0.5 fib recovery at 1.2815
Expected Pips: 20 - 60
Expected Timeline: Max 1 day
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.