Technical outlook and chart setups:
As seen on the 4H chart setup here, the single currency pair has been trading within the range 125.00-130.00 in a decreasing resistance increasing support fashion. After a huge rally from sub 90.00 level to 130.00 level, the pair should retrace before rallying further, but that cannot be confirmed before break of 125.00 level. It also remains possible that the pair rallies one last time towards 132.00 level before finally reversing sharply. It is recommended to remain cautious about buying for now; rather one can book profits on short positions taken earlier and wait to sell on rallies towards 130.00 level. Resistance is at 130.20/50 levels, followed by 131.00, while immediate support for now is 125.00. Only a break of 125.00 would confirm bearish reversal.
Trading recommendations:
Book profits on short positions. Plan to sell rallies towards 130.00 again. Good luck!
Time in Dhaka
Top Potential Trade Chart Set-Ups - Technical analysis is the key to any trade or long-term investment. My strategy is to scan for the best set-ups for us to make the best profit potential. I use OctaFX as my broker house. I am daily trader and I don't like doing Scalping.
উত্তরমুছুনIt is really nice to see the way chart is been setup and for newbies to follow this is not too hard. I personally love doing this as having a perfect charts leads to outstanding results. I trade on cTrader platform with OctaFX, it is a lovely broker with latest things available and also with platform cTrader we can trade with comfort and can setup charts so much better because of their facilities and up to date system that is available.
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