The price is sitting nicely on the 200 day moving average (Black line). Usually this acts as a good point of support and would need some serious trend reversal to break this barrier. This level has also acted aspreviously as shown by the blue arrows. We are also in a consistent upwards trend. Hence going long at 3.52374 with a stop at 3.45338 and take profit at 3.72818. As is usualy with most of our trades this is also going to take some time to achieve its target.
This pair is nicle poised for a quick short position. The black line at 0.8850 has acted as resistance a number of times previously and I expect the price to fall again after testing this area. Take profit is at green line 0.8754 (96 pips) and stop loss at red line 0.8903 (55 pips) It gives us a risk to reward of better than 1:1.5
2 simple scenarios here, the first one is the black line at 0.7316 should act as resistance as it has previously done many times as shown by the blue cirlces. I have set an order to go short with a stop loss at 0.7352 (214 pips) and a take profit at 0.6843 (474 pips) which has acted as support for sometime.
The second scenario will be a break out situation where the price breaks the resistance. If this happens I will again wait for a pull back to the black line before setting an order to go long. Usually in a break out situation the previous resistance acts as support and this is what I will look to trade if that happens.
This trade should easily take a few months to complete.
he black line has acted as support previously as clearly shown by the blue cirlcles. I expect this pair to take support again and hence have set an order to go long at 0.9964 and take profit at 1.0097 and stop loss at 0.9895. That is about 130 pips take profit and about 70 pips stop loss. I use very simple price action trading and technincal analysis, always maintain a good risk to reward.