Here is one Swing Trade setup.
On Daily chart, this pair is in the downtrend, by making series of Lower Highs and Lower Lows.
Currently Stochastic is hitting almost 75% and the current price is at Role Reversal Resistance area.
Thus I am looking to short this pair.
On Hourly chart, this pair was very bullish by riding 21EMA. However, it just made the first Lower Low. Thus it may be interesting to short from the next Lower High.
If you want to follow Pivot theory, that will be MS1 (1.9846).
If you want to follow Fibonacci theory, that will be Fib138.2% (1.9768)
Hope you found this setup interesting.
YJ Baik – Forex.Today @ Tokyo