Technical Analysis on EURUSD-1/03/2020
Updated
Waiting for the reversal at the supply zone 1.11009 and wait for a bearish candlestick to enter.
-1:3 Risk to reward
- TP level: 1.08766
Let's see what happens at the end of the week!
-1:3 Risk to reward
- TP level: 1.08766
Let's see what happens at the end of the week!
Note
Stop loss has been activated.Notes:
- wait for price to retest the resistance descending channel.
-Economic news came out for both EUR and USD.
: EUR-Germany Manufacturing Purchasing Managers Index showed strong results which strengthens the EUR.
:USD-U.S. ISM Manufacturing Purchasing Managers Index showed negative results which weakened USD.
Things to learn-
-Avoid trading with high impact news.
- Always wait for price action to reach a significant level before placing the trade.
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.