The single European currency continues strengthening against the US dollar. The short-term trend is ascending. The growth target is the Target Zone 2 at 1.0752 – 1.0733. If the price breaks out the Target Zone 2, the next target will be the Golden Zone 2 at 1.0839 – 1.0829.
New longs could be opened on corrections from strong support levels, such as the Additional Zone 1.0672 – 1.0667 and the Intermediary Zone 1.0624 – 1.0615. The Intermediary Zone serves as the short-term uptrend’s limit.
If the Intermediary Zone is broken out to the downside and the price consolidates below, the trend will reverse down. We will then consider short trades.
Trading plan for EURUSD for today:
- Buy according to the pattern from Additional Zone 1.0672 – 1.0667.
TakeProfit: Target Zone 2, 1.0752 – 1.0733.
StopLoss: according to pattern rules. - Buy according to the pattern from Intermediary Zone 1.0624 – 1.0615.
TakeProfit: Target Zone 2, 1.0752 – 1.0733.
StopLoss: according to pattern rules.
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.
