The EUR/USD pair is currently displaying a strong bullish structure, characterized by a sequence of Higher Highs (HH) and Higher Lows (HL). Price action has been respecting the ascending trendline, which reinforces the ongoing upward momentum.
A Buy Stop order is placed at 1.14234, just above a recent resistance level, anticipating a breakout continuation. The Stop Loss (SL) is set at 1.13651, safely below the most recent higher low, providing a cushion against false breakouts.
Two Take Profit (TP) levels are marked:
TP1: 1.1482, aligning with a key resistance zone from previous structure.
TP2: 1.1540, which extends into a zone of untested highs, serving as an optimistic target in case of strong bullish momentum.
The RSI (14) currently reads 64.07, approaching the overbought threshold of 70. This suggests bullish strength, although traders should monitor for potential divergence or exhaustion signs if price nears the TP levels.
With a lot size of 0.03 and an equity of $10,000, this trade maintains a conservative risk exposure, suitable for trend continuation setups.
EUR/USD remains bullish in the short-term. A break above 1.14234 could open the door to further gains toward 1.1482 and 1.1540, provided the trendline holds and RSI doesn't show significant bearish divergence. Maintain tight risk management and monitor price reaction at key levels.
A Buy Stop order is placed at 1.14234, just above a recent resistance level, anticipating a breakout continuation. The Stop Loss (SL) is set at 1.13651, safely below the most recent higher low, providing a cushion against false breakouts.
Two Take Profit (TP) levels are marked:
TP1: 1.1482, aligning with a key resistance zone from previous structure.
TP2: 1.1540, which extends into a zone of untested highs, serving as an optimistic target in case of strong bullish momentum.
The RSI (14) currently reads 64.07, approaching the overbought threshold of 70. This suggests bullish strength, although traders should monitor for potential divergence or exhaustion signs if price nears the TP levels.
With a lot size of 0.03 and an equity of $10,000, this trade maintains a conservative risk exposure, suitable for trend continuation setups.
EUR/USD remains bullish in the short-term. A break above 1.14234 could open the door to further gains toward 1.1482 and 1.1540, provided the trendline holds and RSI doesn't show significant bearish divergence. Maintain tight risk management and monitor price reaction at key levels.
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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.
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.