Going into the new week, market experts warn of EURUSD dropping under parity if Russia shuts off the gas to Europe. However, from a technical perspective, there appear to be two scenarios we should be looking out for when the market opens. The first is a countertrend opportunity if we witness a breakout/retest of a reversal pattern identified on the lower time frame where a bullish momentum is inciting a retracement wave into the bearish trendline on the daily time frame; then secondly is that we use below the key level identified at 1.05200 to join the potential decline. Let's keep our fingers and see what happens to the structure when the market resumes.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active:
Bullish momentum triggered at the retest of structure and we are 25pips running in profit; we want to move our stop-loss to break even to avoid being stopped out by any unexpected bearish move (considering the long-term bearish momentum).
Trade closed: target reached:
107pips profit as we hold on to see where price action is going
Trade smart. Trade consciously
