This market continued pushing higher again today. It's times like this where we need to wait and not get carried away with euphoria nased on the fact the market has been strong. Price is now sitting above resistance and there is no more resistance for a long time. We will now wait for a good price action signal from the EMAs to join the strength in this market.
This pair sold off again today as it produced a lower low and the EMAs are now pointing downwards. This market may well kick-off a new downtrend from here and we will wait to see if key support at 1.3700 is broken over the next few days.
This price action trading commentary is published by Lewis Barber and represents his current view of the forex market.