Weekly trend on this pair is up. So long positions are preferred.

On daily chart price just broke out of triangle.


If broken trend line will be respected, we could look for long entry at trend line and support 2.1400 intersection. On the other side, if support will be broken back, we could look for retest and then short. Again, since we are in up trend on weekly, long positions are favorable.

Tomorrow there is Retail Sales m/m news in UK, there is no major red level news in AU.

Leave a Reply