Eurusdforecast
EUR/USD is in historical support level, will it bounce up now?Dear trader, we have made a very good profit with our previous Sell signal on EURUSD@1.0760.
I hope you made money too as I shared the signal in my previous EUR/USD Idea.
At present, EUR/USD is in a historical support level as you can see in the chart. In fact, the price has already
bounced up more than 80 pips in an impulsive move.
However, as you know the FOMC meeting is less than 12 hours away, I have not executed any trades yet. In fact, I am
waiting for a dip to 1.0350 before buying.
My idea is to buy EURUSD@1.0330-1.0380 with SL below 1.03 and initial TP at 1.0550 and final TP at 1.08.
Please note that to avoid stop hunts, I will not be placing Stop Loss immediately after executing the trade.
EURUSD journey to parity intact but.......EURUSD move to parity making well sense but the trend leading to it likely to stall it, the red trend line is the parity trend and the blacked trend line is the path. The first barricade is the last resistance(yellow horizontal line) the next is the black trendine. If cleared then journey to parity could actualize earlier than thought
Short EURUSD at 1.057361) There was an almost "strong bearish trend"!
2) A battle has been seen between bulls and bears at base candle.
3) "Sellers" clearly won the battle!
4) There might be a economical reason behind this move. Since we are chartists, we do not necessarily need to know why this move has happened!
5) According to long term back-tests, if the price reaches the base range, it is about 65% likely to react. However, due to unpredictable market fluctuations and possible trader inaccuracies, the Win Rate of this trading system in various instruments is between 45% and 55%. Regarding the great TP to SL, this strategy is really great at money-making.
6) I will not change the SL but TP may change according to the market situations, So follow this idea.
7) Don't forget about risk management and money management principles.
Best regards , Ali