You would be well advised to confirm the breakout that has just occurred – do you believe the move through resistance to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 0.5986 but consider reducing the size of your position as the price gets closer to that target.
Related Posts
AUDCAD is currently testing a level of 0.8983. Will the breakout continue or will things reverse?
AUDCAD has broken through 0.8983 which it has tested numerous times in the past. We have seen it…
EURJPY through 172.33276470588237. Is this a confirming a breakout? Will it continue its path in the current trend toward 173.2395?
Ascending Triangle pattern identified on EURJPY has broken through a resistance level with the price momentum continuing to…
It’s time to make a decision on AUDUSD – its recent breach of 0.6509 could be a sign of a new trend to follow.
AUDUSD has broken through a support line. Because we have seen it retrace from this price in the…