Update on supports and resistances.
Pivot: 1.3455
Our preference: Short positions below 1.3455 with targets @ 1.3385 & 1.334 in extension.
Alternative scenario: Above 1.3455 look for further upside with 1.3485 & 1.353 as targets.
Comment: the pair is breaking below its support and should face further weakness.
Key levels
1.353
1.3485
1.3455
1.34105 last
1.3385
1.334
1.3295
TIPS:
Never risk more than 2-3% of the total trading forex account One important difference between a successful and an unsuccessful forex trader in forex Market is that the first is able to survive under unfavorable conditions on the forex market, while an unsuccessful forex trader will blow up his account after 5-10 unprofitable trades in the row.
Even with the same trading system 2 forex traders can get opposite results in the long run. The difference will be again in money management approach. To introduce you to money management, let's get one fact: losing 50% of total account requires making 100% return from the rest of money just to restore the original balance.
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