EURUSD | MT Long H4 |Overly Oversold
Updated
Pair: 
EURUSD
Timeframe: H4 - Medium Term (MT)
Direction: Long
Technical Confluences for Trade:
- Stochastics are in Oversold Conditions on D1, H4 and H1 time-frames
- Price action has some support trend-line holding it
- Horizontal trendline looks like a demand zone across the years
- Horizontal trendline (Red) is at the 1% Fib Extension Level
- Aiming for the 32.8% Fibo Retracement with 23.6% as the TP 1 level
Fundamental Confluences for Trade:
- EUR weakness has been mostly been pricing in the expectation that ECB will cut in June and diverge from the FED. Currently, priced in.
- Risk is further war escalation from the Israel-Iran tension
Suggested Trade:
Entry @ Area of Interest 1.0620 - 1.0650
SL @ 1.0589
TP 1 @ 1.0698 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 1.0758
Risk-to-Reward @ Approx. 2.44 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
EURUSD Timeframe: H4 - Medium Term (MT)
Direction: Long
Technical Confluences for Trade:
- Stochastics are in Oversold Conditions on D1, H4 and H1 time-frames
- Price action has some support trend-line holding it
- Horizontal trendline looks like a demand zone across the years
- Horizontal trendline (Red) is at the 1% Fib Extension Level
- Aiming for the 32.8% Fibo Retracement with 23.6% as the TP 1 level
Fundamental Confluences for Trade:
- EUR weakness has been mostly been pricing in the expectation that ECB will cut in June and diverge from the FED. Currently, priced in.
- Risk is further war escalation from the Israel-Iran tension
Suggested Trade:
Entry @ Area of Interest 1.0620 - 1.0650
SL @ 1.0589
TP 1 @ 1.0698 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 1.0758
Risk-to-Reward @ Approx. 2.44 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
Note
The Horizontal Trendline (Demand Zone) is holding on at the moment. Good entry levels if you have yet to enter. SL levels remain.Note
Price was close to TP1 levels; you can still TP half the position size and move your SL levels to Breakeven levels.Note
TP 2 achieved.Enjoy the gains! Look forward to the next trade.
:D
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
Disclaimer
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