EUR/USD is heading towards a strong level of support after plummeting in the past few weeks, mainly due to a strong dollar and covid-affected Europe. For this Bullish move to happen we need DXY to reach $94 where it encounters resistance boosting our case for a upward move. Lots of retail traders (myfxbook sentiment showing 85%) have been longing the euro too early and are not prepared to do the fundamental research behind the way the pair is moving. Will be looking at a very aggressive entry with a very small stop loss, which can definitely be widened to be safe. Will re-enter up to 3 times if stopped out, this a move that cant missed.
Hey bro you’re clearly way more advanced than me at the moment just wondering what have you based the bullish prediction on? Is it just the strong level of support? I’m currently riding the Trend with my SL at the support level highlighted👍🏽
@CC-Trading, dw im not advanced. Last time price was at that support level price rose by 600+ pips indicating the strength of tht level. The Euro has been bearish and dollar Bullish for 3 months straight with no real correction and are bound to run out of steam v soon. when/if price reacts to our zones we decide on whether to enter or not. Price could very well break that level, but from what i see with europes vaccine rollout, theres a decent probability we go up from 1.16000-16500
CC-Trading
⋅
@NasBaz thanks bro ! Will definitely be keeping an eye on it as I have a TP set at that level so let’s ride the wave 🌊