Long

Last push up for Eur/USD

Updated

The price move up is decelerating and it is showing signs of weakness. DXY made lower low but eur/USD did not move up much and just barely made a higher high. It is a good spot to buy eur/usd now at 1.175 or near it and target 1.183 (or very close to it). SL should be just below 1.175 but if you tolerate more - 1.169 should be a definite stop and below 1.1675 - is a selling point.

Once we reach 1.183 - we can target 38.2% retracement aiming at 1.1575 by selling eur/usd near 1.183

Note

1.175 support gave up and our next support is 1.172. My previous buy as 1.175 was stopped at BE and I am waiting for a new better entry as price is still making a retracement from yesterdays top at 1.1807.

But on a larger picture we are still in uptrend. D1 wide uptrend channel is still intact.

Note

Price seem to have respected a minor trendline on M30 and H1 charts and 1.17320 is my new attempt to get into this last buying before this pair is sold. I have 2 last attempts - 1.172 and 1.170 before I give up buying this pair and accept that temporary top is already in place.

Note

Since this last (third) position I am trying to add is just an addition to my buy from 1.166 and 1.138 - I cannot risk having this third position eating up my large portion of my profits thus I am using BE on it once it gets 10 PIP positive. The other two have SL at 1.1675 and TP 1.1825 (which if not reached today after jobless claims will be closed manually).

The initial BUY can be traced back to my previous ideas and if you do not have any other positions in profit - you should either use BE Sl or at very least - at 1.1675 as we are in the final stage before we experience a drop since retracement should occur very soon.

Note

1.1766 is the level to beat in order to keep my third buy safe.

Note

We are finally moving upwards, leaving 1.1766 behind and now testing 1.1785. If price closes this hour above 1.1785 - expect 1.18 and 1.183 in extension. All looking good so far.

Note

1.18 hit and I took partial profits on all positions, moved my SL to 1.177 for all as we are very close to an end.

Trade closed: target reached

1.183 has been hit and the remaining parts of long positions were closed. Congratulations to all who bought this pair

Erland

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