Take a look at this chart, l have analysed the pair from monthly to 30 minute time-frame, the pair shows signs of bearish strengths at the supply zone , there is a huge rejections at the top and this indicates a possible short opportunity, most swing traders would place stop loss above the supply zone around 1.2507 and take profit around 1.2395, But l'm waiting for price to reach around 1.2497 and place a short trade after signs of bear strengths and bull weakness.
Commento:
Yesterday the pair made 40 points profit on this short trade, trades should be closed by yesterday, however the trade is still in +30 points profit in our favor. The pair is showing signs of bull strength , bears are losing strength, its time to close the trade, forget the take profit at 1.2395.