spesfinancial
Long

EURUSD Possible long setup

FX:EURUSD   Euro Fx/U.S. Dollar
47 2 1
USD was quite weak in last week. EURUSD             is now testing the significant resistance zone , and it is highly likely to break upwards. Personally I would like to wait for a confirmation candle on 1 hour or 4 hour chart to confirm the breakout, and then look for long entry after a consolidation on lower time frame.

My first target will be around the downwards trendline on day chart, and with a reasonable stoploss, we may achieve a good risk/reward ratio. You can choose either close all long position when price reaches there, or leave a portion of your position open and protected to BE to see if price could keep going up.
probably much higher ;)
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Agree, but it may test support before continue rising. Can't be sure.
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