Hey guys,
It’s the start of a new week of pip making again and it looks like it could be an interesting week. We have a new 2 year low at 203.44 which should make for a great short if broken. A lot of the times these significant highs and lows cause quite a bit of movement when broken so hopefully it heads down there. On the bullish side we have two lines a scalp at 208.00 and a normal trade on the break of the 208.80 resistance line.
Remember though, I cannot predict candle formations and there are always trades to be had based on candle patterns. Be it a reversal pattern or a candle that creates a new scalp line trades can form during the week. So keep your eyes open for those trades.
Check out the video below for detailed analysis.
Also Forex 4 Noobs is getting a face lift. I know I do minor site changes every other week but all in all the site has remained the same. This time I am doing a complete overhaul and it will look like a completely different site. It will look much more modern and much sexier.
Good luck this week!