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