As the market continues its sideways movement it is a good idea to keep cognizant of important key levels of S&R as well as the 50 SMA and 100 SMA. When markets move sideways for an extended period of time ensuing price action on a breach of major S&R or an MA can be quick, therefore you want to be in a position to execute.
Tag Archives: breach
Trade Idea: EUR/USD – Buy at 1.4900
As the single currency maintained a firm undertone after rising to an intra-day high of 1.5000, suggesting the correction from 1.5049 has possibly ended there and our bullishness remains for a test of this level, then to recent high of 1.5064. Looking ahead, a breach there would confirm the medium…