Note: EUR/USD is having some price correction to the
resistance zone near 1.05x level
Here is the trading plan:
Wait the price pullback to the resistance zone or 20-EMA,
followed by a bearish signal to short with right risk amount!
Note: EUR/USD follows our breakout prediction last week.
Overall, we remain bearish on this pair.
There are 2 ways to trade this pair:
1. When there is a bearish signal appeared, we will
ride on the trend and short
2. Wait the price pullback to support zone at 1.052x
level and bearish signal to short!
Note:
Potential Break Setup!
If EUR/USD breaks the support zone near 1.053x level
There are 2 ways to trade:
1. Short directly with smaller lot size and aim for parity!
2. Wait for pullback to the support zone and another bearish signal to short with the right lot size :)
FOMC Meeting on Thursday is the key!
Currently, we're holding the uptrend line from 3/15. Also, expecting dollar weakness to continue after the election rally. Long targeting 1.082 as the first target.
Euro currently looking fundamentally weak against the US Dollar as a December Rate Hike will cause a further divergence between their monetary policies.
Here we have a nice example of a Gartley pattern.
D leg completion comes in at 1.11450. (78.6% of XA leg)
Entry: 1.11450
Stop: 1.12020
Target 1: 1.10940
Target 2: 1.10580
Thanks for checking out my idea. If you found it useful leave me a like, it's always appreciated.
Luke
Would this ever be a Home Run of a trade if it played out! This Technical Analysis is based on a high quality symmetrical Triangle Pattern formation. This will be a trend continuation trade based on the ascending nature of the triangle, making it a safer trade than a trend reversal. Targets are stated in-chart. Stops would be placed approximately below the 1.115...
