4H Analysis on EURUSD
Updated
Hello traders. On this 4H analysis of EURUSD, we have an ascending channel setup. Price has just recently tested the 1.07200 support region in the channel, providing us with a good entry point. A SL should be placed at an appropriately distance below the 1.07200 support level in the event price breaks out of the channel and enters into a waterfall. A good place where price may go next would be to the resistance level in the 1.10000 region.
Trade closed manually
Price has broken out of the channel to the downside. SL would have not yet been activated but there is a good possibility that price may go lower and eventually hit the SL.The safest thing to do would be to manually close the trade now or wait for a BE (breakeven) in the 1.07200 support region should price retests that level before hitting the SL.
Comment
Price now at BE pointDisclaimer
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