Hello traders.
EURUSD has shown response to weakening of US sillicon valley bank.
In fact it is a consolidation which could be turn into a mid-term uptrend.
Currently the price has broken with a strong candle (despite the long top wick buyers are fully in control) so I am expecting a short term SH-SL
Fib retracement in conjuction with support.
This mean I think buyers are stronger and the price can target two areas for potential profits.
US economy is not at the best of it and if we consider the issues with China, dollar might face further losses against all other currencies.
EURUSD has shown response to weakening of US sillicon valley bank.
In fact it is a consolidation which could be turn into a mid-term uptrend.
Currently the price has broken with a strong candle (despite the long top wick buyers are fully in control) so I am expecting a short term SH-SL
Fib retracement in conjuction with support.
This mean I think buyers are stronger and the price can target two areas for potential profits.
US economy is not at the best of it and if we consider the issues with China, dollar might face further losses against all other currencies.
Trade closed manually:
closed both long trades at 1.07
2x75=+150 pips
2x75=+150 pips