USD was quite weak in last week. EURUSD is now testing the significant resistance zone, and it is highly likely to break upwards. Personally I would like to wait for a confirmation candle on 1 hour or 4 hour chart to confirm the breakout, and then look for long entry after a consolidation on lower time frame.
My first target will be around the downwards trendline on day chart, and with a reasonable stoploss, we may achieve a good risk/reward ratio. You can choose either close all long position when price reaches there, or leave a portion of your position open and protected to BE to see if price could keep going up.
My first target will be around the downwards trendline on day chart, and with a reasonable stoploss, we may achieve a good risk/reward ratio. You can choose either close all long position when price reaches there, or leave a portion of your position open and protected to BE to see if price could keep going up.