AdvancedAlpha

#EURUSD Medium Term Forecast

Long
FX:EURUSD   Euro / U.S. Dollar
The ABCD pattern on #EURUSD 4 hour chart is now completed and we expect the pair to correct to 50% Fib level. 1.1100 area in #EURUSD has been a very strong support and resistant level in the past couple of months and there is good chance to bounce to this level again in a medium term.

In terms of risk and reward ratio this trade will give you a better than one to two ratio which is an ideal scenario. If you benefit from any #algorithmictrading systems you can set your system to automatically trade long this opportunity until price reaches 1.11 area.
Trade active: After entering this trade last week, we have seen a nice move up in EURUSD on Friday evening. We will move our stop to BE now.
Trade closed: target reached: Target for this trade has been triggered before Fed decision. Total 1.7% profit is banked.

Thank you for following our trading ideas.