The pair produced a bearish engulfing candle in the H4 chart to close its trading week. It may play a very significant role to determine its next direction. The level of 0.72600 has been a strong level of support, where the price had several bounces. If the price makes a bearish breakout, the sellers may go short in the pair upon having the breakout confirmation followed by a bearish reversal candle. I am going to keep an eye on this pair to go short next week.

- Joined Jul 2011 | Status: Member | 8,337 Posts
If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return:
-11.5%
- Joined Jul 2011 | Status: Member | 8,337 Posts
If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return:
-11.5%
- Joined Jul 2011 | Status: Member | 8,337 Posts
If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return:
-11.5%
- Joined Jul 2011 | Status: Member | 8,337 Posts
If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return:
-11.5%
- Joined Jul 2011 | Status: Member | 8,337 Posts
If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return:
-11.5%
- Joined Jul 2011 | Status: Member | 8,337 Posts
If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return:
-11.5%
- Joined Dec 2013 | Status: Member | 214 Posts
Price will always go in the direction that causes the most amount of pain.