The bullish trend ended yesterday.
This is shown in the screenshot below, in the form of a red support line.
Now, there is an important level for buyers – 1.13 – before the breakout of which it is necessary to cut long positions.
Traders should be careful as markets can give out “surprises” this week, and an example of it is sudden increased volatility.
Also, sell stops at 1.1850 have not gone anywhere, and it appears that the pair is still heading towards it.
This trading idea is based on the framework of price action and stop hunting strategies.
Good luck and have a nice day!
The material has been provided by InstaForex Company – www.instaforex.com