EURUSD: Reversal candle in the daily chart and an inversed H&S formation in the hourly chart. The tested resistance at 1.1745-55 met sellers for one more time yesterday and today the pair is trying to for a base under these levels. If a right shoulder in an inversed H&S pattern is going to be formed, then 1.1715-20 will hold any retracement. The break of 1.1755 on an hourly close will open the road for 1.1775 and eventually for 1.1790-00 which will be our main target.
Strategy: So we will BUY in the 1.1720-30 area with initial target 1.1745-55. There we will close half position moving stops at BE expecting for a breakout. Stops will be set at 1.1794
Strategy: So we will BUY in the 1.1720-30 area with initial target 1.1745-55. There we will close half position moving stops at BE expecting for a breakout. Stops will be set at 1.1794
Comment:
Entered LONG. Stops at 1.1794 and initial target 1.1750