Price printed an inverted hammer on the 4 hour chart and this is a Daily level it is rejecting. I am also seeing bulls come into play. I am targeting previous resistance giving this trade a good 3:1.Price is channeling down nicely on the daily. We had a break and retest of a horizontal trendline and price is now consolidating/forming a nice small bear flag. I would look for a 1:1 or 1:1.5 setup just to break the weekly lows. Trade with care!
After weeks of bearish waters, the trading pair is expected to sail in bullish markets as the euro sets its eyes on the highly anticipated non-farm payroll in the United States. The results of the report will strengthen the currency, allowing it to make a comeback against the Swedish krona. The decision of the Swedish government to leave it's economy-wide open...