EXITING THE CHANNEL IS A REALITY
Long term: For the past 2 years the pair stayed in a well formated upwards channel with limits between 0.8300-0.7600. We can now say that the downwards exit of this formation is reliable,with mid term targets 0.7390,0.7200 and 0.6900.The pair has until now given us profits of more than 640 pips,meeting with the second target of 0.7200,moving now towards the 0.6900 target.Target accomplished,total profits of 730 pips.As long as the pair stays below the 0.7400 level and whenever the 0.6900 level will be downwards broken,we can redefine target down to 0.6400 area.We now stand at this critical point.
Short term: As correctly described in our 2 last analysis:We can now go short aiming 0.6850.Profits received 60 pips.We can now re enter short at the downwards break of 0.7010 aiming 0.6960.Profits of 50 pips received.We can now re enter short aiming 0.6750.All targets accomplished,total profit of 190 pips received.We can now try entering long at the upwards break of 0.6800 aiming 0.6900.
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