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Euro / U.S. Dollar
Long

EURUSD due for the awaited correction

By Aurocks_AIF
Updated
EURUSD pair has started showing sign of weakness on daily with each new low (MACD, RSI, CCI positive divergences), approaching the low of March, which was the lowest rate since over a decade. The long strategy here is to find entries for an anticipated correction, whether by hunting and accumulating longs on lower timeframes or wait for the confirmation next days if it breaks up the falling wedge, or both, depending on the risk profile of this trade, which seems now as a countertrend trade on higher timeframes.

Happy Trading, everyone!
Note
Wedge has broken up, trade active, first target around 1.08
snapshot
Note
Second target hit, moved SL of the rest slightly under 1.09
Commodity Channel Index (CCI)DivergencedollareuroEURUSDMoving Average Convergence / Divergence (MACD)Relative Strength Index (RSI)Stochastic Oscillatortrend
Aurocks_AIF

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