EUR/USD long trade idea. This long entry is based off of a few things. Firstly, RSI is oversold and the RSI made a bullish cross over the RSI-based MA. Secondly, the 1.0761 area was a major support area on 4/1/24, 8/1/24, 10/23/24. Third, an ascending trendline from 4/16/24 low, 6/26/24 low and now 10/23/24 low. The stop level is based off fib retracement .786 from 4/16/24 low to 9/25/24 high. The take profit level is based off fib retracement .50 from 9/25/24 high to 10/23/24 low, plus 1/11/24, 3/8/24, 8/5/24 high area. My actual long entry executed was from 1.0764. However, it's simple enough to add a trailing stop loss as well.
EUR/USD long trade idea:
long = 1.0761
stop = 1.0732
profit = 1.0988
EUR/USD long trade idea:
long = 1.0761
stop = 1.0732
profit = 1.0988
Note
Note
Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
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Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
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.