I love EUR/USD. We just hit our channels resistance, but I suspect we continue bullish a little more so that we may retest the other resistance zone from a few weeks ago. Then, we will likely continue this trend. Now, this trend will not and cannot last forever. No, this short trend will be broken and drop down, and we shall continue our downtrend. (Given 3M, M, W, 3D and daily time frames which all indicate bearishness) Now for the long-term traders, I suggest you short EURUSD and look away for a few months. But for the short term, wait until it hits the resistance and THEN place a short entry. Close that trade when it hits the channels support and buy a long (WITH STRICT RISK MANAGEMENT). If it hits your SL, then obviously you continue shorts.
Good luck traders! Do your own analysis.
Lmk if you have any questions. I’m usually online.
Good luck traders! Do your own analysis.
Lmk if you have any questions. I’m usually online.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.