Channel has been formed at 1D time frame. Fundamental Analysis: USD is Bullish while EUR is Bearish based on recent out datas. Initial Stop Loss placed just little above channel border at 1.066 & final target at Support at 1.035. Analysis also helped by RSI(14) momentum indicator. If stop loss reached: only 5% of balance loss (usage of low leverage). Stop Loss (SL) : Take Profit (TP) = 1:2. Because of long trip from Resistance to Support, then place several intermediate targets (TPs). Just my personal opinion. Can be wrong. Have a Nice Trading. Hope This Is Your Lucky One.
Trade active
US Sept. 2023 CPI y/y Data has just been released 1 hour ago. It was 3.7%, still 1.7% above target of 2%. Therefore I (and maybe most of Traders) guessing that at 1 Nov. 2023 FOMC, the Fed rate will be increased 25 bps to 5.5-5.75%, causing massive exchange from currencies outside USD into USD. USD as safe heaven will still be "Bullish". Continue the EURUSD Short.Trade closed manually
TEMPORARY HALT, AVOIDING DEEP CORRECTION. PLEASE TEMPORARY TAKE PROFIT AT 1.05:Hi Buddies,
Right now EURUSD price is on 1.05 (reaching Oversold at RSI(14) at H4 time frame). Based on my experience, usually this condition will cause deep price correction movement upward. To avoid touching Stop Loss, I prefer to "halt trading for a while". I will open trade again at the correction phase top edge, probably around 1.055 around several hours from now or at next week session.
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.
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.