Get started
Chris4XTrading

EURUSD Update #1: Trade Active

Short
Euro / U.S. Dollar (FX:EURUSD)  
Chris4XTrading Updated   
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis
1
0
trendanalysis
Trade active.

TP1: 1.16500
TP2: 1.16200
SL: 1.17900
R/R: 3.0

Supporting factors:
  • S&P and DJIA up 0.3% and 0.6% respectively
  • US CPI to rise 0.2%
  • Weaker EUR economy, lead by weak German production
  • Head and shoulders pattern
Comment:
First Fibo re-tracement reached - second opportunity to enter if you missed the first entry point.
snapshot
Comment:
Looks like the Euro isn't going down without a fight. Multiple retests expected during the short.
snapshot
Trade closed: target reached

Related Ideas

Chris4XTrading
Possible head and shoulders forming
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.