No, a major trend reversal is very unlikely at this point. The EUR/USD pair has shown a strong bullish trend since mid-April and this will likely continue in the short term, in light of weak inflation data and the rising geopolitical tensions between the United States and North Korea. However a key support level to watch is 1.17. If price breaches this level, it may indicate a trend reversal and selling opportunities may arise.
My trading set up for this week:
Entry - 1.185
Stop Loss - 1.180
Take Profit - 1.190
Note: This is not a thorough analysis of the pair and I am not making any trading recommendations. I have been making long trades on this pair for months and just sharing a few insights. Always trade your plan and plan you trades!
My trading set up for this week:
Stop Loss - 1.180
Take Profit - 1.190
Note: This is not a thorough analysis of the pair and I am not making any trading recommendations. I have been making long trades on this pair for months and just sharing a few insights. Always trade your plan and plan you trades!