EURUSD potential upside move
Updated
EURUSD is setting its self up in the same way US30 is, they’ve both seen consolidation after a sell off.
Technical: EURUSD is having its 3 EMA cross over its 10 EMA to the upside while at the same time the Stochastic is crossing the 50-80% mark to the upside as well. Price action has also tested the Top trendline, possibly setting up for a break out. Waiting for candle closes is going to be KEY to confirm a crossover on the stochastic and EMAs
Technical: EURUSD is having its 3 EMA cross over its 10 EMA to the upside while at the same time the Stochastic is crossing the 50-80% mark to the upside as well. Price action has also tested the Top trendline, possibly setting up for a break out. Waiting for candle closes is going to be KEY to confirm a crossover on the stochastic and EMAs
Trade active
I've entered a Long position targeting a 0.5% move up where ill take half or three quarters of my position off and let the rest run until we get a EMA/Stochastic cross downStop loss is a break of the bottom trendline
Trade closed: target reached
I'm completely out of my whole position, the reason i've completely exited instead of letting a quarter of my position running was because EURUSD SMASHED through the 0.5% Take profit and almost made a 1% move up. Plus NFP came out today and i would rather not be in a trade all day with the volatility USDX could experience intraday. Im also going to be away from my phone and computer for some hours once market opens today so id rather not risk a reversal and miss the EMA cross over to the downside while away.
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