Long Retracement

FX:EURUSD   Euro / U.S. Dollar
Hello everyone - so looking at the $EUR/USD you can see we have a strong break out of the ickimoku to the upside, however we have not passed the trend moving average. Therefore I have taken a long position on this, however you have to really think about the exit on this, as we all know the EUR will start going down again soon, so keep an eye on this one.

Using Fib retracement I think we can aim for 1.10241 and then we can push for 1.11560. I would advise a Stop loss of at least 2xATR ( average true range ) taken from the daily charts which is 324 pips at a MAXIMUM, however you could run a tighter stop given the volatility of this pair.

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