Do not rush to trade

21.01.2021

USD did not increase as it was expected before. Instead, it declined and penetrated below the zone 103.70-103.62. Despite the fact that price did not reach the stop loss, until it is withheld below the zone mentioned earlier, a momentum to the lower side to the supportive line 102.64 is expected. Here is recommendation: wait for a correction to the zone 103.20-103.62 and a bounce within to sell USD with your take profit at 102.64 and stop loss at 104.01. If there is an obvious break above the zone with a big green candle, wait for a correction to it and a bunch confirming bullish movements of price before you buy USD.

Trade recommendation
Wait for a retracement to 103.20-103.62 to sell USD.