You would be well advised to confirm the breakout that has just occurred – do you believe the move through support to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 0.8568 but consider reducing the size of your position as the price gets closer to that target.
Related Posts
EUR/USD hits 1.08155 after a 2.82% move spanning 28 days
For those of you that don’t believe in trends, this may be an opportunity to take advantage of…
After testing 1.3008 numerous times, GBP/USD has finally broken through. Can we expect a bearish trend to follow?
GBP/USD has broken through a line of 1.3008. If this breakout holds true, we could see the price…
Big movement possible on AUD/USD after a breach of 0.6698
AUD/USD has broken through a line of 0.6698 and suggests a possible movement to 0.6656 within the next…