EURUSD | Perspective for the new week
As against my previous speculation (see link below for reference purposes), The EUR/USD pair recovered its long-term bullish stance as buyers finally found the momentum to break Major resistance @ $1.1900 (a major Support level) followed by a retest of this level to make a new Support level for Bullish opportunities.
Tendency: Uptrend( Bullish )
Structure: Trendline | Breakout | Supply & Demand
Observation: i. The line drawn under pivot lows emphasizes the prevailing direction of price as price makes a Breakout and found a Demand zone!
ii. Breakout of $1.19000 level affirms the strength the buyers have in this market as we look forward to a Bullish run in the following week(s).
iii. Watchout... a temporary correction "might" happen early this coming week before a rally continuation resurfaces.
iv. Please note that if at any time price breaks below $1.18800 with significant Bearish candle, we might take a hold on this bias and revisit my last idea (link below for reference purposes).
Trading plan: BUY confirmation with a minimum potential profit of 150 pips.
Risk/Reward: 1:3.5
Potential Duration: 2 to 4 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Tendency: Uptrend( Bullish )
Structure: Trendline | Breakout | Supply & Demand
Observation: i. The line drawn under pivot lows emphasizes the prevailing direction of price as price makes a Breakout and found a Demand zone!
ii. Breakout of $1.19000 level affirms the strength the buyers have in this market as we look forward to a Bullish run in the following week(s).
iii. Watchout... a temporary correction "might" happen early this coming week before a rally continuation resurfaces.
iv. Please note that if at any time price breaks below $1.18800 with significant Bearish candle, we might take a hold on this bias and revisit my last idea (link below for reference purposes).
Trading plan: BUY confirmation with a minimum potential profit of 150 pips.
Risk/Reward: 1:3.5
Potential Duration: 2 to 4 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade smart. Trade consciously
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