The euro is testing a short-term uptrend’s key support at 1.1294 – 1.1286 again. As long as the zone remains unbroken, we should be looking for an opportunity to buy. So, we need a pattern to buy, and the price needs to settle above Friday’s high. If that’s the case, we will open long positions with a target at around 30 November’s high.
To sell the euro, we need a trend change. If the Intermediary Zone of 1.1294 – 1.1286 is broken, the trend will turn downwards. In this case, a selling target will be the lower Target zone of 1.1206 – 1.1189.
Trading plan for EURUSD for today:
- Buy according to the pattern from Intermediary Zone 1.1294 – 1.1286.
- TakeProfit: 1.1380.
- StopLoss: According to pattern rules.
- Sell once the price consolidates below 1.1278.
- TakeProfit: Target zone 1.1206 – 1.1189.
- StopLoss: 1.1300.
Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.
Go to Register with LiteForex Platform
Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.
