TimStuyts

EURUSD watch for break

FX:EURUSD   Euro/U.S. Dollar
178 0 7
EURUSD             is about to break out of its short term structure. I favor a bullish move to test at least 1.145 but we have to keep an open mind and trade what we see. So I'll either be looking for 1.145 or 1.13.

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Comment:
snapshot


I'm still long EURUSD and the pullback after the break provided a risk/reward potential of 5/1. However price came a bit short for my target and I'm therefore still in this trade with stop loss at break-even. I'll be looking for a bullish continuation that should bring price towards my target as shown by means of the arrow and maybe even higher. For those not in the trade, look for the bullish break for a buy trade with stop below the current consolidation in case it actually breaks out bullish.
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