2021/05/03 - 09.27 AM
Our preference: long positions above 0.7240 with targets at 0.8135 & 0.8450 in extension.
Alternative scenario: below 0.7240 look for further downside with 0.7000 & 0.6670 as targets.
Comment: the RSI is bullish and calls for further advance. The pair remains on the upside, supported by its rising 50-week moving average.
Trading foreign currency exchange and Crypto Exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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