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Euro / U.S. Dollar
Long

EURUSD Take-off

By RCtrader2
Updated
The ascent is very steep, so I used a 2h chart to lay down the possible limits of the uptrend channel. The MAs on the 1h/4h chart are bullish, but a possible bearish harmonic pattern on the 4h chart has to be cleared out. You can use the chart as a guide to day trading.
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1.1454 was a good area to short for 20-100 pips
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The price has moved onto the lowest support trendline and so gives an opportunity to go long.
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The price exited the uptrend channel. It made a 0.5 retracement at 1.1337, low: 1.1213, high: 1.1464. It can reach the DR3 at 1.1320.
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The price has created a new uptrend channel.
Trade closed manually
EURUSD at a crossroad!
analysisEURUSDeurusdlongeurusdshortLONGParallel ChannelshortTrend Lines
RCtrader2

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