The pair broke 148.30 resistance and went as high as 150.70 for now. I had closed my position from last Friday with 169 pips loss. I spotted another resistance on weekly chart and decided to give it another try. The pair has touch the 30 EMA on weekly chart at 150.75. My entry point was 150.40. The pair also at the upper channel on 1 hour chart. Below are the weekly and hourly chart.
50% fibonacci retracement of 118.80 (January low) to 150.72 is at 134.72. On hourly chart, 50% fibonacci retracement of 135.70 to 150.72 is at 143.21. However, 148 (broken resistance) and 145 (March high) area have to be broken first.
Weekly Chart
H1 Chart
That is all for now. Happy trading guys!
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