germanbel
Long

EURUSD: a reason to go long

FX_IDC:EURUSD   Euro/U.S. Dollar
29 0 1
From the beginning of last week the pair began a downward movement till friday. It was expected that the NFP would be good for USD. And of course it was better than good when the data was released. But if we compare the movement down of friday after knowing the data, it was not big deal. Four days before the market discounted great part of the movement. So now everyone is focusing in that the Fed is going to hike rates on December. If this would be true, the pair should need to climb to certain resistance from where the USD will be cheap for bears to sell the pair on a rate hike.
This scenario favours to look entry points for going long.
I would appreciate very much any comments.
Thank you in advance.
Trade active: Think is good to buy now. I am long at 1,0720. SL at 1,0670. Target at 1,0920.
Comment: From now I expect:
a) cross of SMA 100 over SMA 200
b) Breach up of 1,0790
With this two conditions think my long would be successful.
On the other hand, the breach of SL at 1,0670 will drive the price to 1,0500.
Trade closed manually: Close at 1,0800. Nice 80 pips. Tomorrow Friday. See you next week.
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