Good day to all readers.
It is mid week and I hope you are green with pips! Do remember to trade with logic not emotions 😉
It our previous reviews we noted on the ranging nature of the currency pair.
Looking at the 4 hourly chart above, we noted a spike up and a subsequent ease down to the pivot region of 1.10633.
The current level may be a support. It is near the middle bollinger band which sometimes function as an ad hoc pivot. Both ends of the bollinger band serves as a reference to possible limits of the range.
We are expecting US unemployment claims later in the week. Unexpected outcomes may move the currency pair. Trade safely.
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