Good morning traders,
With the latest news in EUR when we could see that the output growth is at a near six-year low, it opened some doors for us to do a short position.
As you can see we failed to break the monthly key level, with a clean and impulsive candle to the downside, after a little correction stage and this EUR news helping, the hourly support was also broken, and now we can start to look at it as a resistance level, if we see a clean retracement closing bellow our ex-hourly support, we could open a short trade with the target around 1.1240, you can also look for better entries in the lower timeframes, such as 30M and 1H.
Best of Lucks,
GlobalYouthTrading
For more updates about the forex market follow our telegram: t.me/Globalyouthtradingfree
With the latest news in EUR when we could see that the output growth is at a near six-year low, it opened some doors for us to do a short position.
As you can see we failed to break the monthly key level, with a clean and impulsive candle to the downside, after a little correction stage and this EUR news helping, the hourly support was also broken, and now we can start to look at it as a resistance level, if we see a clean retracement closing bellow our ex-hourly support, we could open a short trade with the target around 1.1240, you can also look for better entries in the lower timeframes, such as 30M and 1H.
Best of Lucks,
GlobalYouthTrading
For more updates about the forex market follow our telegram: t.me/Globalyouthtradingfree
Trade active:
Looking at a lower timeframe (15min) you can see that the correction was broken, and we are on our way to the target! Hope you all caught the entry!
Trade closed: target reached:
Target reached, super successful trade!