Hello traders welcome back for another week of trading. Just some notes to mention as we look at this pair traders for the next two weeks be alert to any GBP pairs and trading as we have Brexit vote and I would expect volatility to start. Also FOMC Chair Yellen speaks at 12:30 PM on wall street. Data today is slow with data releases. In the next Asia session we have Aussie rate decision and statement no change expected.
OK let us look at the trade plan with the chart. You can see we are in a strong down trend and I have placed the Fibonacci tool on the chart and looking for a pull back to the 23.6 zone at 155.80 to enter a sell trade. I am looking to take profit at the price level at 153.00 zone.This trade if entered will be a two to three day trade. We are staying with the trend as we all know is so important with the sentiment of the market.
Thank you traders and we will talk soon……..William