Holding euro for now...

FX:EURUSD   欧元/美元
266 3
Weekly gain/loss: +0.50%
Weekly closing price: 1.1662

Over the course of last week’s sessions, the single currency managed to recoup some of its recent losses. As can be seen on the weekly timeframe , this has positioned the unit within striking distance of a resistance line pegged at 1.1714. Boasting a reasonably strong history, we feel this line will very likely cap upside this week.

On Tuesday, daily price came within a few pips of shaking hands with the top edge of a demand base seen at 1.1479-1.1552, which happens to be sited just ahead of the aforementioned weekly support. Cleary managing to attract the attention of the buyers here, the euro spent the remainder of week clocking fresh highs. According to the daily timeframe , the sticks could continue to advance this week as the next upside target does not come on to the radar until we reach the channel resistance etched from the high 1.2092.

For those who follow our reports on a regular basis you may recall that in last week’s weekly report the desk underscored a prospective buy trade from a H4 demand area penciled in at 1.1541-1.1570. Our buy order was filled at 1.1567 amid the early hours of Tuesday’s segment, and the stop-loss order was positioned a few pips below the aforesaid H4 demand area at 1.1540. As 1.16 was touched on Wednesday, our first take-profit target, the team decided to reduce risk to breakeven here and bank some profits. Thursday’s advance, however, brought the unit up to our second take-profit zone: November’s opening level at 1.1651. Further profits were banked at this point and the stop-loss order moved up to 1.1595.

Suggestions: Going into the new week, we intend on holding our current long trade as on Friday the H4 candles eventually conquered November’s opening level. We have also moved the stop-loss order up to 1.1621. Positioned a few pips beneath weekly resistance at 1.1714, we decided that the 1.17 handle will be the final take-profit zone for this trade. With it being a nice-looking zone to sell it makes for a strong final target.

Should you have missed the initial long call, and also the second opportunity to buy on the retest of 1.16 on Thursday, you may be given a third opportunity to catch some of the move if H4 price retests 1.1651 this week. From here you could drill down to the lower timeframes and search for an entry, targeting 1.17.

Data points to consider: FOMC member Harker speaks at 12.10am GMT .

Get real-time trading updates at our official Telegram group : https://t.me/ICMarketsroom
Move the stoploss, 1.1621, two pips lower..And it can even be used as entry point!
@-Jong, sorry bud no entry for u
ICmarkets matthewinbaraj
@matthewinbaraj, Ha. Trade is long gone :)
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的客服工单 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出