EU has a huge potential to test it's support at 1.1935 area, which is also the 61.8% fibonacci retracement. If it goes further, it will test its support at 1.18729 and 78.6% fibonacci retracement at 1.17236 area. Final tp can be set at 1.1553 which is the last bottom, where price can potentially reverse.
If price fails to break 61.8% fib, look for an entry to long.
Practice risk management. Good luck trading.
*Trade at your own risk!
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Markets are going crazy due to FOMC. Trade only when markets normalize if you are not comfortable trading news.
If planning to short EU, we are now at a good level to short.
*This is not a trading advice. Use my analysis as guides only.*
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Entered at 1.2010
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SL around 1.2050.
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+80 pips! Move SL to breakeven.
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If 1.1930 is not broken, you can take profit and open a long to trade the retracement, or just keep your sell open. Overall trend is still downward.
#RiskFreeTrade
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Traded the retracement. +40 pips!
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I hope you guys have successfully traded both ways, the fall from 1.2010 to 1.1940 and the retracement from 1.1940 to 1.2000.
#RiskFreeTrade