{quote} The market hit the target.
With today close, the market confirmed the cable is still in the bears' hands. Bulls need to get the cable above 1.3550 (Over the daily 9MA) at the nearest day close. I recommend to buy the cable below 1.3470 with stop loss at 1.3440 and taking profits at 1.3570. Any daily close above 1.3550 will take the cable to 1.3695 and 1.3770 in the short term. I work in all frames short and long terms. So my explorers are not necessary reflect my recommendation. But the whole...
With noting to the above, I see that clearly disappointing for bulls. Anyway cable is going to retest below 1.3500 before confirming the reversal. Here, We have 2 possibilities:
First, cable might continues up to 1.3600 or 1.3650. If this happened we might see a pull back downward and high reselling.
Or, if it fails to break above 1.3575 we can see bearish move until 1.3492 or until the yesterday low or 1.3391~1.3417 zone before any strong bullish move. All of this will ultimately highly depends on when will this happen: this week or next week.
I still suggest to go long with caution until further notice.
Good Luck !
