Here I have a potential long for EU, depending on the closure of the daily candle. I would like to see movement to the upside and break through the structure of 1.18632 to reach the wick in the region of 1.19170. I would naturally expect price to retrace back to the structure and ideally use it as a support to then continue to the upside and reach the initial target of 1.20. I know this is a very ambitious trade but I still believe that the EURO is strong, and will overpower against the DOLLAR.
Obviously this is my own personal trade and I highly recommend that you carry out your own analysis before entering a trade.
We also have so high influence news from both Europe and USA, which will make the markets extremely volatile, so we will need to keep this in mind during the trade.
Use the correct risk management and happy trading.
Obviously this is my own personal trade and I highly recommend that you carry out your own analysis before entering a trade.
We also have so high influence news from both Europe and USA, which will make the markets extremely volatile, so we will need to keep this in mind during the trade.
Use the correct risk management and happy trading.
Comment:
Price failed to close above marked structure. I closed my trade for the weekend, but will look to see how Monday performs before either re-entering a long or if I believe price will move to the downside.