PITCHFORK - Forex EURUSD Weekly Analysis Feb 19th - 23rd , 2018
SELL EURUSD
Area: Pitchfork Upper Line
Channel Pitchfork - Descending
Entry: 1.24200 - Median Line
Target Profit: 1.21300 - Lower Line
Next Target Profit: NIL
Stop Loss: 1.25600
Reward Potential: 290 pips
Risk: 140 pips
Reason:
1. Price rejected and made reversal on previous high/upper line high probability heading towards median line then lower line pitchfork.
2. US Dollar also have made rebounce on weekly lower line pitchfork. Expecting strong US Dollar in the coming weeks.
Area: Pitchfork Upper Line
Channel Pitchfork - Descending
Entry: 1.24200 - Median Line
Target Profit: 1.21300 - Lower Line
Next Target Profit: NIL
Stop Loss: 1.25600
Reward Potential: 290 pips
Risk: 140 pips
Reason:
1. Price rejected and made reversal on previous high/upper line high probability heading towards median line then lower line pitchfork.
2. US Dollar also have made rebounce on weekly lower line pitchfork. Expecting strong US Dollar in the coming weeks.
Trade closed: target reached