Motivation - We go long based on breaking of a trend line together with coded confirmation of our indicators. Confirmation - Daily and weekly uptrend confirmation Take Profit and Stop Loss - Fib levels are drawn on the chart and can be used for TP and SL... - Go for a small TP due to big volatility this week - E.g: SL: 1.02584 - TP: 1.03198
How will EURUSD react on the ECB meeting later today? Staying on the sidelines for the moment; Banks project .95 as a long term target for the EURUSD. Last day could be just a short correction before continuation to the downside. Nevertheless, some short term trades can be opened with small TP and SL. I'll update on setups asap.
With the greek crisis there has been a lot of speculation on the EURUSD. Nevertheless there is a strong support now and the pair still follows a general trend (bearish). This trend is likely to reverse in the coming weeks so be aware of this! Get ready to long EURUSD! Great profits could be reached. New updates will be posted with more specifics on TP and SL.