EURUSD pair is forming an AB=CD as the result of its recent down trend. A long position with two profit targets can be evaluated. RSI indicating excessive sale may support our long position. My profit targets and stop loss level are indicated on chart.
PS: If this AB=CD is formed before the Job Openings news, I am planning to wait for the boom in the market to settle and act accordingly.
PS: If this AB=CD is formed before the Job Openings news, I am planning to wait for the boom in the market to settle and act accordingly.
Trade active:
Good Luck!
Comment:
We can re-set the stop level to 1.33350
Trade closed: stop reached:
Rest of our trade stopped at 1.13350 with profit.
First profit target is reached. We are putting half of the profit into our pockets and setting the stop loss value to break even level. The second target of the trade is the red resistance line.