28 Dec 2016



The rate is still trading within the box range I mentioned last week (for full trade idea click here).
The thin holiday trading liquidity, however, has pushed the rate into an even smaller range.

The lack of fundamental catalysts, the pressure which the rate is applying on the former resistance as the new support at the major psychological level at 1.7000, and the fact that it simply is easier to trade in a confined range than to create important breakouts, makes me look for a downside break here.

A close beneath 1.7000 level would open up a way down towards the range support at 1.6830 and a possible continuation which should then target the 100% range extension around 1.6520.

As tempting as it might seem, I wouldn't be trading an upside break above the range resistance at 1.7150 before next week, as the probability for a false break in low liquidity conditions is very high.

Don't forget to check out my currency predictions for 2017 for majors and crosses

Take advantage of our New Year's discount


Forex Signal Service will show you how to take professional,
high quality and substantially more winning trades.

...even if you’re not an experienced trader.
...even if you’re not good at reading charts.
And you’ll see how to do it, by placing your own trades, with more confidence and less risk, wasted time and wasted effort.

And Here’s Exactly How It Works:

I will send you real-time simple, well structured and clear Forex signals via email, everything you need to know to place a good trade, including:
  • Exactly when and where to enter the trade
  • Exactly when and where to take the profit
  • Safe exit trading tactics
Plus, I’ll share the trade updates if it closes or requires any modifications, as well as how to utilize a profitable forex signals, and do risk management.

It's Clear Why Forex Signal Service Is A Good Choice

It’s about making it easier to be financially safe without asking too much of you, with far less wasted time, wasted effort and headaches for quick and easy trading.
You can start bringing in reasonable profits simply by watching and implementing the tips and signals I send your way and with no hidden fees and commissions to worry.
Even part-time traders can easily bring in a decent monthly income by simply following the simple advice Trade It Simple Signaling service provides.


Post a Comment