We can see EURUSD trading in a channel range on the bigger timeframe of Weekly.
Currently we see the pair ranging in a local area of 1.119 to 1.138 after dumping down.
The MACD is still strongly trending down, not yet showing clear sign of reversal in momentum.
1. SHORT TRADE :
We can look to SHORT the retest of the neckline it has broken down from, 1.15.
Target the bottom of the channel around 1.1035
SL above the 3 EMA 50, 100, 200
2. LONG TRADE :
We can look to catch a LONG from the support zone confluent with bottom of channel line at 1.098
Target top of channel but TP along the way.
SL below channel support line
I mainly trade cryptocurrencies as I love the volatility.
Let me know if I should do more forex pairs.
Do like and follow if you like this idea and benefited in some way :)
Currently we see the pair ranging in a local area of 1.119 to 1.138 after dumping down.
The MACD is still strongly trending down, not yet showing clear sign of reversal in momentum.
1. SHORT TRADE :
We can look to SHORT the retest of the neckline it has broken down from, 1.15.
Target the bottom of the channel around 1.1035
SL above the 3 EMA 50, 100, 200
2. LONG TRADE :
We can look to catch a LONG from the support zone confluent with bottom of channel line at 1.098
Target top of channel but TP along the way.
SL below channel support line
I mainly trade cryptocurrencies as I love the volatility.
Let me know if I should do more forex pairs.
Do like and follow if you like this idea and benefited in some way :)
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