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
After testing 154.9650 numerous times, USD/JPY has finally broken through. Can we expect a bearish trend to follow?
USD/JPY has broken through a support line. It has touched this line numerous times in the last 8…
We expect AUDUSD to trend upwards right now.
We expect AUDUSD to trend upwards for the next 12 hours. Based on these past United States JOLTs…
USD/CAD – breach of price line that’s been previously tested numerous times before
USD/CAD has breached the resistance line at 1.3731. It may continue the bullish trend towards 1.3805, or, it…