DuncanForex
Long

EURUSD - LONG 4hr - multiple targets

OANDA:EURUSD   Euro / U.S. Dollar
Hello all - DuncanForex here with another trade idea.

After GOLD breaking out from the consolidating triangle and heading higher - USD is weaker sooner than I expected.

Therefore, I'm looking to sell the USD>

Here is another opportunity to do that with the EURUSD>

With European PMI data coming out over the enxt few days into next week and the ECB meeting on the 25th - strengthening EUR.

With USD 50 points rate cut being priced in - USD weakness is ahead - especially with oversold indices markets.

I can see this pushing higher over the coming week

Thanks for looking

Duncan
Trade active: Take Profit 1 hit
Very cool and good analysis an RR!
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DuncanForex Bullandbeartrading
@Bullandbeartrading, Thanks :-) Your comments are appreciated
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What about the 1.1290 Resistance on 4H? I believe this is best sold there. Good content overall on your channel!
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DuncanForex TradingShot
@TradingShot, Hi, thanks for your message- I have three trades open with the target areas shown on the chart. Once TP 1 is hit, i will look for a continuation or reversal pattern and manage my stop loss positions on the other two open trades. ideally looking for it to reach TP2 and then the same approach to TP3.



If it reverses at TP1 - then i will close all the trades at that time - however i will look for it to cycle lower and not just complete a XYZ correction. - Cheers Duncan
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DuncanForex DuncanForex
@DuncanForex, positions being monitored - as I think this is based on New York Fed comments essentially countering the dovish views provided this afternoon. However if you look at the 1 hour charts , its created a nigh on perfect 61.8% retrace and therefore I am looking to add additonal long positions to the trades that are left.
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DuncanForex DuncanForex
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