Dear Traders, it's been a very good week for the EURUSD buyers. For the last two weeks, I have been suggesting you to keep buying the dips in EURUSD. This week finally I have managed to close all my trades in EURUSD with good profits.(My plan was to keep buying the dips between 1.0780-1.0880, analysis attached below)
Now that the buys have been closed, how to trade it next week?
As you can see from the chart, EURUSD ran into resistance at the 100D EMA
and it appears today's daily candle is going to close in the form of a Long-legged Doji which indicates indecision in the market.
So, next week I am going to observe if EURUSD makes another run towards the resistance area at 1.1035-1.1060.
If the resistance holds, I plan to sell EURUSD at the area mentioned above(1.1030-1.1060) for at least 80 to 130 pips take profit.
Now that the buys have been closed, how to trade it next week?
As you can see from the chart, EURUSD ran into resistance at the 100D EMA
and it appears today's daily candle is going to close in the form of a Long-legged Doji which indicates indecision in the market.
So, next week I am going to observe if EURUSD makes another run towards the resistance area at 1.1035-1.1060.
If the resistance holds, I plan to sell EURUSD at the area mentioned above(1.1030-1.1060) for at least 80 to 130 pips take profit.
