The area between 0.9580 and 0.9569 features three levels that may pan out to be robust support:
Support(1): Daily EMA, 0.9580
Support(2): Daily 38% Retracement, 0.9569
Support(3): Weekly 38% Retracement, 0.9569
Here's the trade:
1) Buy 0.9580
2) Initial stop loss @ 0.9544
3) TP @ 0.9616
4) Risk/Reward, 1:1
The coming 16 hours feature the ECB Minutes, US Q2 GDP, US Core PCE, and kickoff of the Jackson Hole Symposium. Be ready for anything as these reports hit newswires.
Support(1): Daily EMA, 0.9580
Support(2): Daily 38% Retracement, 0.9569
Support(3): Weekly 38% Retracement, 0.9569
Here's the trade:
1) Buy 0.9580
2) Initial stop loss @ 0.9544
3) TP @ 0.9616
4) Risk/Reward, 1:1
The coming 16 hours feature the ECB Minutes, US Q2 GDP, US Core PCE, and kickoff of the Jackson Hole Symposium. Be ready for anything as these reports hit newswires.