Although markets are closed at the minute, a good trader spends as much time analysing off market hours as he does during market hours. So here we go for a long EURUSD. All indicators tell us that the short momentum seems to weaken off, so we're anticipating some reversal soon. However, the critical point is that upper support level is about to be tested. So, if the support lasts, we will see a long movement soon. If not, well then we are in trouble of falling free all the way down to the second support level. In any way, some long movement is a good bet. Let's see how wrong I am ;) Happy Trading!
Trade closed: target reached:
That went well! Enough support to initiate the reversal, now the Fib Retracement tells us we've been sitting it out long enough. Time to close it up and take some good money home!