FX:EURUSD Euro Fx/U.S. Dollar
A potential technical entry point.
Comment: With a hard pull back at the trend-line it may be wise to take the current profit and re-enter the trade if there is a clear break.
Trade active: This morning the Euro finally broke one of the trendline barriers. It should continue higher but is not yet really constructive looking. The nest barrier is the downward sloping long term trend line current around 1.1010. If it breaks that.... off it goes!
Hey Piet. This is a sound trade. With good money management. You are however trading against that big move up from a few days ago. Having said that the EUR/JPY did a similar move and still fell lower. I would say however, that when trading, it is more often the case that there is follow-through after an engulfing pattern such as this.