Good morning traders,
Another pair for next week and another pair i was trading Friday. I still think this pair has the chance to come back up to this support level. I have marked out reasons for this structure point and hopefully it is very clear why it is an interesting area.
Support clearly formed along both these areas, so this trade is based simply off trading between each other. We can also run a fib and see that the 38.20% sits perfectly inline with the top of structure giving us that extra confluence.
Of course, we need to wait for Monday now to see which direction this pair wants to go but i personally see this carrying on up short term.
Another pair for next week and another pair i was trading Friday. I still think this pair has the chance to come back up to this support level. I have marked out reasons for this structure point and hopefully it is very clear why it is an interesting area.
Support clearly formed along both these areas, so this trade is based simply off trading between each other. We can also run a fib and see that the 38.20% sits perfectly inline with the top of structure giving us that extra confluence.
Of course, we need to wait for Monday now to see which direction this pair wants to go but i personally see this carrying on up short term.