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 1.3641 but consider reducing the size of your position as the price gets closer to that target.
Related Posts
After testing 0.6467 numerous times, AUDUSD has finally broken through. Can we expect a bullish trend to follow?
AUDUSD is once again retesting a key horizontal resistance level at 0.6467. It has tested this level 4…
EURUSD hits 1.12281 after a 2.49% move spanning 22 days
An unexpected large move has occurred on EURUSD Daily chart beginning at 1.151425 and ending at 1.12281. Is…
CHFJPY – breach of a trending resistance line that has been tested at least twice before.
The last 14 4 hour candles on CHFJPY formed a Triangle pattern and broken out through the pattern…