1.2000 is going to be very important here

IF this holiday rally is real, and IF it’s to be maintained, 1.2000 needs to come with strong support. The buck is grinding higher in a few pairs now but it’s EURUSD I’m interested in so I’m testing the support with a small long at 1.2006. I’ve a provisional stop at 1.1970 but I’ll likely adjust that up as we go, or will exit the trade if it’s looking dodgy. So far the low is 1.2006.

If we do bounce, I’ll look to take profit on half for 10 pips and see what happens to the rest.

EURUSD 15m chart

EURUSD 15m chart

 

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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