Market has headed down with risk aversion being the key theme as Asian markets fell.
Market has broken the 3H support line and is now at the Daily support line and close to horizontal support at 1.4100.
Trade 1
In light of the comment above, I have just entered a long position risking 2.5% capital at 1.4130 with a 100pip hard stop loss. Might look to risk another 2.5% if price heads to 1.4100 and bounces of support. Thus my overall view is that due to strong support levels this market is heading back up towards resistance at approx. 1.4300...
Aug 17th 07.40 - Long at 1.4130 - 100pip SL - 2.5% capital at risk.
