Last weeks push over 1.2285 has increased the likelihood of a return to 1.2970, and further bolsters the positive structure. I would suggest trying to buy on a return to the the old trend line resistance running off 1.2285 and 1.2200. Idealy a push back to 1.2100 intraday would enable a good risk reward ratio, as any stop would have to be placed under 1.1740.
Hi you buy the high i sell the low. Just wanted to let you know that I read you blog whenever you update and you have some great insight and macro trading ideas. Keep up the good work. Fritz (Trader in Australia)
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