EURUSD: Multiple reasons to go long
Updated
If we analyze the 4h, daily, weekly and monthly charts, we will find an abundance of reasons to go long EURUSD in this region, to name a few:
I placed a pending buy order here and will use the monthly level for the stop loss at 1.8860 in FXCM's feed, and the profile low volume support for the second entry (trade's split in half).
Managing the trade is key, I'll update this via my zulutrade page.
Good luck,
Regards.
Ivan.
- Dax is moving down, EURUSD normally correlated to it, lagging.
- Ichimoku cloud support between 1.113-1.103, and lagging line about to bounce from old price
- Time at mode 4h trend signals' targets about to get hit (1.1115-1.11 mark)
- Monthly range expansion entry, we're in the buy zone (this also signals a pending advance to 1.21397)
- Profile value area low area, with low volume support below at 1.1035.
- Pitchfork's WL support, also interesting AR lines in 4h.
- Fundamentals: Draghi's speaking tomorrow, and this week we have very important news events from tomorrow and until Friday.
I placed a pending buy order here and will use the monthly level for the stop loss at 1.8860 in FXCM's feed, and the profile low volume support for the second entry (trade's split in half).
Managing the trade is key, I'll update this via my zulutrade page.
Good luck,
Regards.
Ivan.
Trade closed: stop reached
Bounce worked as expected, I booked profits before it collapsed. See updated weekly chart.
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