Major breakout. Scope for further downside
Dear Viewers
Hope you are following a strict stop loss to protect your profits on this pair. As per previous analysis, a hint was indicated about
a possible further breakout after crossing 1.3190. It is imperative to note that 78.6% Fibonacci level (1.3165) is surpassed on this pair and this paves way for a further downside. The next downside level to watch for is 1.3080. Any further downside after this level will find a key support at 61.8% Fibonacci level (1.2995) on a daily chart.
Please do put a tight stop loss and adopt a strict risk management on this pair owing to immense volatility associated with political uncertainty.
Wish you a happy trading!
v_sadanand
Hope you are following a strict stop loss to protect your profits on this pair. As per previous analysis, a hint was indicated about
a possible further breakout after crossing 1.3190. It is imperative to note that 78.6% Fibonacci level (1.3165) is surpassed on this pair and this paves way for a further downside. The next downside level to watch for is 1.3080. Any further downside after this level will find a key support at 61.8% Fibonacci level (1.2995) on a daily chart.
Please do put a tight stop loss and adopt a strict risk management on this pair owing to immense volatility associated with political uncertainty.
Wish you a happy trading!
v_sadanand