EURUSD: Short-Term Retracement Trade

EURUSD
Timeframe: H4
Direction: Long

Confluences for Trade:
- Price at Support of Parallel Channel
- Fibo support (61%) lies at 1.1187 (SL level is below that, just in case)
- Stochastic Overbought momentum (W1, D1, H4 & H1)
- Fundamentally, EU-Italy impasse is still at large but market have pretty much priced in such situations; leadin strong weakening this week.

Going for a short-term retracement trade here.

Suggested Trade:
Entry @ Area of Interest 1.1200 - 1.1250
SL: 1.1169
TP: 1.1353
RR: Approx. 2.02 (Depending on Entry Level)


May the pips move in our favor! Good luck! :D

*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.

Comment:

Lock in half the profits and move SL to BE. Run the remaining position totally risk free. :D

Trade closed: target reached