Hello traders, hope you had a great weekend. Last Friday, we made some
good profits of 100+ pips by selling EUR/USD at the 1.10 resistance level.
Now, at the moment, the price is approaching a minor support. Whether the support
level holds is another question. Price action tomorrow will be the determining
factor. Although, as we approach the end of the year, volumes will continue to
reduce as most of the big institutional traders will be on holiday.
Of course, I would not open any new sells at the current price levels. However,
in case EUR/USD spikes up to the resistance again, I will consider putting in
new sell trades.
good profits of 100+ pips by selling EUR/USD at the 1.10 resistance level.
Now, at the moment, the price is approaching a minor support. Whether the support
level holds is another question. Price action tomorrow will be the determining
factor. Although, as we approach the end of the year, volumes will continue to
reduce as most of the big institutional traders will be on holiday.
Of course, I would not open any new sells at the current price levels. However,
in case EUR/USD spikes up to the resistance again, I will consider putting in
new sell trades.
Note
As predicted, the support level is holding so farNote
Price is confined in a small range, not tradeable at allNote
Looks like the support held and we are going back up to 1.10 again
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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.