Good evening traders. Our institutional research has identified some key levels where traders are eyeing to get short. Resistance begins at the 1.0468 level and goes up into the 1.05/1.052 area. With this pair being in a downtrend a pull back up to either of the areas marked on the chart would represent overbought conditions where institutional sellers may be looking to get short. That being said, the latter zone would be more conservative. Use a 30-40 pip stop loss and look to get whatever you can on the profit side. Good Luck.
Trade active
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EURUSD got entered during the London session at the 1.04680 figure.. so far so good for about 28 pips. I hope some people got in and out!
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Trade has now been good for about 37 pips at this point!
Trade closed manually
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Trade was good for about 58 pips... I'm considering it "closed" because I would suggest taking profit given the time and it being Friday.
Thanks for the great help as always.