A still firmer rebound as we had anticipated for Tuesday to build on the bullish outside and engulfing pattern Monday to probe above 119.75 and aim for a further upside targets in the broader range.
- We see an upside bias for 120.12; break here aims for 120.45, maybe 120.85, which we would look to try to cap.
- But below 119.28 opens risk down to 118.93, which we would look to try to hold.
Short/ Intermediate-term Range Parameters: We see the broader range defined by 121.20 and 118.14.
Range Breakout Challenge
- Upside: Above 121.20 aims higher for the new 122.02 peak and to a key long term retracement at 122.45.
- Downside: Below 118.15 sees risk lower for 117.17 and 116.64.
Forextraders' Broker of the Month
ForexTB is generally considered a reliable and reputable firm. It offers a variety of desirable features and attracts traders from all over Europe. The brokerage is fully regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC) and is fully compliant with the European Securities and Markets Authority (ESMA). Customer reviews are usually positive, and independent industry websites that have reviewed ForexTB have concluded that the broker is safe...