The clearcut trendline and pullback signifies a strong change of trend on the M5 chart. A new higher low formed on the pullback of the trendline, and a calculated target should be met at 1.12803. Stochastic also shows divergence, indicating the prior downward trend is over.
A good short setup with a positive risk reward at clear resistance. An evening star reversal pattern followed by a bearish pinbar gives a strong entry into the sell, and the stop should be placed at the high of the pinbar at around 0.92860, and a target of 0.92425 gives a good 1:2 risk/reward trade.
Breakout to the upside with a very good risk reward. Stop should be placed below the retracement around 30 pips, and the profit target for this trade is 70 pips, but taking profits at around 60 pips would be a good target.
Still long on my initial trend line bounce entry after more confirmation that the bullish trend may continue. Divergence is supported by a bullish horizontal resistance breakout and another test of the trend line.
After a long rally upwards price meets a decent resistance level with stochastic divergence. Price also formed a pinbar indicating bearish momentum. A good target for a trade here would be the most recent low around the 101.900 level.
Trend line support shows a nice uptrend along with horizontal support hinting in the same direction. The entry here is triggered with the bullish engulfing pattern but the Stochastic divergence is my main cause to take this trade. So many people shorting the Euro at the moment but i personally see no reason to sell ...