Fascinating wise has EUR moved forward vs USD last Friday due to bad NFP released data from USA. Its moving forward has reached the upper zone channel level and probably is now in the upward movements to reach the price level at 1.160xx.
My trading plan for EURUSD is described on this chart, just take a look at it for your reference and consideration.
Personally I will do both long and short, in which at every retracement thereof I will short EU and then long, if the price action would act as planned.
According to my point of view EURUSD in a upward trend has mostly performed with failures recently, therefore a smoothly upward in the current situation of hiking rate intention from Fed in June can push the upward momentum of EURUSD slower. Hence trade with care with this pair for this year.
I will follow up with you with this pair in the coming days.
Notes: I will wake up earlier tomorrow by the Asia session and ...wait to short EU at first, take your look at each retracement but as said, it will be my own trading plan for both long and short.
1) It will closed above 1.13483 and does not make a new lower lows, thus EURUSD will pop up and reach the extension level @email@example.com and from there it will make a retracement;
2) The second wave was yet at the level 0.232@ around 1.1320 and from now EUR will pop up to perform its third wave ( how much time it will consume and be noted that it is not a must that the third wave has to be performed successfully);
3) The level at 1.13483 can not be broken in the beginning of Europa session and EUR will make a new lows at our expected level of firstname.lastname@example.org and from there the price raise.
So we are waiting for price action( my short today was closed with around 20 pips lol )
My s/l for that is just 25 pips and t/p at 1.1437( but can be a little bit less, pls take note that it wuld be such as an extension trading, the price will pop up very quickly but then falls like a stone, so trade with care, if you join.
Note: COT confirming that traders continued net long with the greenbacks
Just risk 25 pips, or win around 55 pips.
Trade well and be careful with the price action and below is the news for you, check the link below:
Whether EURUSD will still go to the direction as planned, we have to wait and watch at the coming price action.
If the markets move, then we have a chance to guess where will the markets go, else difficult to guess. Keep patience is very important in such situation.
T/p will be as planned.
Enjoin your journey!
I will update further possible trade with EU on time.
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It has been a short recently. Pls read carefully my post and follow up from beginning, then you will see my trading plan clearly. At tradingview. com we have only three choices to public a post, long/short/neural, I did chose long for that setup, but I have informed that I will do both long and short at every movement I can identify, therefore there are frequent follow up with a trade with care, where to get in and where should get out.