EURUSD low risk Buy setupEURUSD fell quite sharply earlier London session-momentum on higher time frame is quite weakening which suggests for a short term correction.
Trade Safe.
Eursudlong
EURUSD testing support, potential bounce! EURUSD is testing our first support at 1.2228 (horizontal swing low support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement, Elliot wave structure). A bounce might occur above this level, pushing price up to our major resistance at 1.2341 (50%, Fibonacci retracement, horizontal swing high resistance). A breakout of our intermediate resistance at 1.2285 (23.6% Fibonacci retracement, horizontal overlap resistance) might provide the bullish acceleration to our major resistance level.
Stochastic (55,5,3) is also approaching our major support and a bounce off this level might be a good precursor of a potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
EURUSD Short/LongHello, youraveragetrader here! :)
Fresh new bull channel.
- Potential short
or
- Wait for the fall back to the bottom of the channel and enter long for a safer play.
