This pair is in a strong uptrend as mentioned yesterday.
Chart below.
We have had a good pull back and price is starting to break back up through the averages with the trend.
I am looking to go long on a re test of the 4hr 20 EMA and the 50% fib of the last thrust move up.
I will also be looking to ensure that the 15 minute and 5 minute stochastic are at an over sold level.
Entry levels and chart below.
Entry: 87.90
Stop: 87.70
Target: 88.90 (5%)
I will update if and when we get triggered into the trade
Regards
Scott
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