Fundamentally we still want to go long USD and short EUR for long term, but at the moment it's trading on a channel.
You can look for an opportunity to go long EUR from the current price and try to take profit at around next S/R at 1.730.
Wait for price action buy signal on 4h time. If there is no confirmation on price action play it safe and do not trade.
You can look for an opportunity to go long EUR from the current price and try to take profit at around next S/R at 1.730.
Wait for price action buy signal on 4h time. If there is no confirmation on price action play it safe and do not trade.
Trade active:
Entered
Long Position @1.5700
S/L @1.5220
First T/P target @1.6430
Long Position @1.5700
S/L @1.5220
First T/P target @1.6430
Trade active:
Unfortunately it failed to break through 1.6000 resistance level.
Close half position for profit and move stop loss to break even.
And let's just wait and see.
Update S/L to 1.5700.
Close half position for profit and move stop loss to break even.
And let's just wait and see.
Update S/L to 1.5700.
Comment:
The long trade is doing great, we still got 50% position next T/P target 1.1700
Trade closed: stop reached:
Position stopped out. Possibly because of risk sentiment news regarding China is trying to ask WTO for permission to impose sanctions on US. Similar to brexit news to GBP, risk sentiment news will also have strong effect to safe haven currency like JPY, CHF and USD.
Will try to re-enter long position when EUR/USD pull back to 1.5525 level.
Don't forget to wait for price action signal for confirmation.
Will try to re-enter long position when EUR/USD pull back to 1.5525 level.
Don't forget to wait for price action signal for confirmation.