2020/12/28 - 09.49 AM
Our preference: target 0.7553.
Alternative scenario: the upside breakout of 0.7610, would call for 0.7631 and 0.7644.
Comment: the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (0.7597) but above its 50 period moving average (0.7590).
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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