Price is at the strong resistance level 1.1000. The market can reverse and fall to MA100 (yellow line) or even lower. Also we have a bearish divergence which is a sell signal. The trading idea can be like this: place sell-stop orders below MA50 (blue line) with stop orders above 1.1000 level. Profit target is at the MA100. As for long trades, they can be opened only if price bounces from MAs or support levels.
I am a bit concerned about the risk/reward ratio. If one buys at 1.09, stop loss at 1.10 and take profit around 1.08, the risk/reward is about 1:1. If it goes below SMA100, it will become better.
DLavrov
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@NickFi, it's good to trade with R/R ration like 1:2 or 1:3, but these trades must be in the same direction with the main trend.
wjason777
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Im seeing maybe a strong spike upward to resistance level then a strong bearish movement to fill gap, french elections
DLavrov
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thanks for your comments guys! Yes, mainly level can't stop price, if fundamental news push markets. The same goes about French election, but also don't forget USA election... on monday we'll be able to see eurusd much higher 1.1000, but are you sure???
rabibe
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There is strong upward trend on EURUSD, there is chance of pullback to MA50 (blue line).
DLavrov
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@rabibe, why not? But I think that 1.1000 is good level for reversal.
rabibe
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@DLavrov, just my view point, fundamentals are very strong, weak dollar and also as per french elections.