Last night was good for 70 pips or so and it looks like 112.00 is where we found a floor.
112.00 should be decent support so I plan to BUY 112.00-112.10 with TP 112. 65-112.75 and SL 111.45 - 111.55.
Based on the 4 hour 112.00 - 112.20 hold trend line support and the 78.6 Fib level from the move up. There is also the making of triple bottom on the daily on the other hand it may as well be a double top, all depends haw you want play it, but I assume there will be at least some sort of attempt to keep the pair afloat. The hourly chart support lies 111.80- 112.00 and we are currently about 80 pips below the 100EMA. RSI is showing positive signs.
Shorter time frames are mixed with the 15 min looking mildly bearish and the 5 min slightly bullish. after 112.30 next resitance is around 112.60 - 112.70.
P/L RESULTS = +60
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