EUR/USD 100 PIPS BUY SETUP WITH 1:5 RISK TO REWARD
After a wonderful short setup on the previous post we expected price to test liquidity level to confirm continuation with overall trend to upside.
---->Price has broke the counter trend line which is also forming "higher lows"
----> Price respecting the 50% fib level which is the golden fibonacci level.
----> the dollar index show weakness to upside and we could see price now for eurusd continue to upside
Key areas to watch for target to be achieved
--->resistance level around 1.18250 level which is a highly point of control of the market and that give as a risk to reward of 1;1.3 in case we break that level we could see price continue to upside. 1.19000 level which gives us a nice risk to reward of 1:5
---> If price close below 1.17850 level the the trade becomes invalid. also have an eye of how market react cause it is friday
---->Price has broke the counter trend line which is also forming "higher lows"
----> Price respecting the 50% fib level which is the golden fibonacci level.
----> the dollar index show weakness to upside and we could see price now for eurusd continue to upside
Key areas to watch for target to be achieved
--->resistance level around 1.18250 level which is a highly point of control of the market and that give as a risk to reward of 1;1.3 in case we break that level we could see price continue to upside. 1.19000 level which gives us a nice risk to reward of 1:5
---> If price close below 1.17850 level the the trade becomes invalid. also have an eye of how market react cause it is friday
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