The support/resistance zones on this pair are very visible & actionable from both the long range & short range stratagy play.
As long as you got your markers set out correctly, it's simply a case of waiting for your preferred triggers to come into focus & get aboard.
This current level playing out here (9950-60) is the real fulcrum. This zone will dictate whether the Pound Bulls have a backbone or not. From here you got clear upside & downside barriers to play with.
But the risk has already been borne farther back as the demand kicked off @ 1.9400. All the Bulls gotta do now is peel off if this hurdle up here fails to give way.
Bulls will compound the break of 950 to 2,0100 & check their bearings to nest line @ 2.0225.
Any fall-out from here takes the activity back to interim supports @ 9775-9710 where bids will now lie.
Graphs: 240min & 2x15min.
|