EURUSD - Long 5 : 1 Win vs Risk - expecting Dollar weakness
Updated
Hello all
I am bearish on the dollar, although short term recent price action suggests otherwise.
However, big picture, with the very bullish 4 hour candle printed last week on EURUSD, I am expecting after a retrace into the 50% to 61.8% area for it to now make a new leg higher.
It is making higher lows and where the bullish candle was printed, it broke the previous low on the wick however closed higher than the previous week.
Along with a similar move that gold made overnight from another idea I posted.
I do now expect this to cycle higher.
It is at a monthly area of support and on the weekly, last week it printed a bullish candle.
Let's see how this plays out, I am in at 1.11570 - 3 entries - with varying targets.
Thanks for looking
Duncanforex.com coming in July.
I am bearish on the dollar, although short term recent price action suggests otherwise.
However, big picture, with the very bullish 4 hour candle printed last week on EURUSD, I am expecting after a retrace into the 50% to 61.8% area for it to now make a new leg higher.
It is making higher lows and where the bullish candle was printed, it broke the previous low on the wick however closed higher than the previous week.
Along with a similar move that gold made overnight from another idea I posted.
I do now expect this to cycle higher.
It is at a monthly area of support and on the weekly, last week it printed a bullish candle.
Let's see how this plays out, I am in at 1.11570 - 3 entries - with varying targets.
Thanks for looking
Duncanforex.com coming in July.
Trade active
Hi allTrades have finally turned around, I am now in two more entries at 1.1135 - 5 in total .
Targets are 1.1200, 1.1250 , 1.1310 , 1.1395 and 1.1480
Trade active
Trades are live and going wellTrade active
Traders live and first target hit.Trade active
Stops moved to 1.1225 area with expectations it will continue to move higherTrade closed: stop reached
Stops hit at 1.1225 area - will wait until after NFP to re-enter Long
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