By: Doug Rosen
This pair looks a bit iffy to me. It is bouncing off the Daily 21 ema as well as the Weekly M1 and just bounced off the Daily S2 Reversal Pivot.
At the end of what I would consider a bearish week for this pair I expect Friday profit taking off of support to trigger a bunch of buy orders forcing price back up but I do see resistance along the way.
If price were to reach 1.0550 I would consider a short with a stop loss just above 1.0570 If price were to break above 1.0570 I would wait for a pullback down to 1.0565 and look to long this to 1.0600 with a stop loss around 1.0550 .
