Euro / U.S. DollarShort
EURUSD moving to next support zone
Forex Trading Technical Analysis: EURUSD moving to next support zone
Watch EURUSD price action carefully. A break below current support zone 1.3630-50, could send EURUSD lower to the next support zone around 1.3500.
2 ways to trade this.
A) Aggressive approach (Short on breakout below 1.3630-50)
Pros: higher chance of being fillled
Cons: may be a false breakout, and EURUSD trades back above 1.3650
B) Conservative approach (After breakout, wait for pullback rally to 1.3630-50)
Pros: for those who prefer more confirmation price action before proceeding
Pros: reduces chance of false breakout
Cons: if EURUSD breaks below 1.3630-50 without any rally retracement, trade may not be filled
Watch EURUSD price action carefully. A break below current support zone 1.3630-50, could send EURUSD lower to the next support zone around 1.3500.
2 ways to trade this.
A) Aggressive approach (Short on breakout below 1.3630-50)
Pros: higher chance of being fillled
Cons: may be a false breakout, and EURUSD trades back above 1.3650
B) Conservative approach (After breakout, wait for pullback rally to 1.3630-50)
Pros: for those who prefer more confirmation price action before proceeding
Pros: reduces chance of false breakout
Cons: if EURUSD breaks below 1.3630-50 without any rally retracement, trade may not be filled
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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.
Disclaimer
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.