Today is Friday. It's time to wrap up your trades before the weekends. Take a look at the chart analysis today and decide for yourself what trading strategies should you choose.
After many consecutive gaining sessions from the beginning of the week, the gaining trend is stopping. However, overall, we still prioritize buy orders to follow the uptrend. If you can buy in the good price areas below, you can keep the order. If there is no order, wait for the signal at 109-109.5. Note the zone 109.5 is the area of MA20 on the daily chart.
Price has officially broken the bottom 1.10. Perhaps many of you are regretful of having previously exited this area. But the transaction is like that, something should be done. The short side may come back today, but note that the decrease range is not much so only short-term trading. It is necessary to place a tight Stop Loss just above the resistance area. If you are reversal, wait patiently for signals at the next support area before opening a sell order.
Price fell as expected despite previous bullish signals. The current support is quite wide, so the breakout is not yet clear. If you sold yesterday, you should consider exiting or at least moving the Stop Loss as there may be some recovery today when the MA20 on the weekly chart is being tested. If there is no order, wait for non-farm or new week.
Price is persistently accumulating in a narrow range at a high level. Of course in the non-farm news tonight it will be broken. Staying at this high price for a longer time reduces the chance of a reversal. However, for now, I am still inclined to this possibility. Selling this price with existing bearish signals is relatively good, but the risk is a bit high that Stop Loss will be reached. Whoever is more careful, then wait at the overhead resistance.
The buyers soon showed weakness after the recovery. However, if you are having a buy order at a good price then you can still consider holding. My view is that the resistance zone of 0.669 will not be easily broken