EURUSD to pullback after the first move down to make room for subsequent moves within the green channel.
50% retracement seems possible which will also align with the quarter channel line.
Managed to get in earlier at the test of the bottom blue channel with a target of the blue channel high hopefully completed by close of London session today or by close of Asian session at the latest.
There are news releases for Euro and Dollar at 2:30 and 2:45 (UTC) which could accelerate price.
UPDATE 25/11/2014: I have now CLOSED this position for +54.2 pips as I am receiving mixed signals about the short term direction of this pair. Price may continue to rise to hit my initial target, but as there are a lot of news reports this afternoon (UTC) together with the fact we're in a very bearish main channel, I'm happy to bank my pips and move on..
50% retracement seems possible which will also align with the quarter channel line.
Managed to get in earlier at the test of the bottom blue channel with a target of the blue channel high hopefully completed by close of London session today or by close of Asian session at the latest.
There are news releases for Euro and Dollar at 2:30 and 2:45 (UTC) which could accelerate price.
UPDATE 25/11/2014: I have now CLOSED this position for +54.2 pips as I am receiving mixed signals about the short term direction of this pair. Price may continue to rise to hit my initial target, but as there are a lot of news reports this afternoon (UTC) together with the fact we're in a very bearish main channel, I'm happy to bank my pips and move on..
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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.