EURUSD - Breakout of the up-channel?
EUR/USD offers a great opportunity to trade a beautiful candle showing a rejection in the upper part of the up-channel.
Short-term trend is up and it is well represented by the chart pattern that we are studying, but long term trend is not so clear, in my opinion.
Fundamentals are against EUR, recently. The setup of the moving average also slighlty prefers short positions.
With this risk to reward ratio, it is definitely worth a try.
Also, you can consider to have a first take profit at the bottom of the channel, while a second take profit as shown in the analysis, trading the breakout.
Short-term trend is up and it is well represented by the chart pattern that we are studying, but long term trend is not so clear, in my opinion.
Fundamentals are against EUR, recently. The setup of the moving average also slighlty prefers short positions.
With this risk to reward ratio, it is definitely worth a try.
Also, you can consider to have a first take profit at the bottom of the channel, while a second take profit as shown in the analysis, trading the breakout.
Zlecenie aktywne:
The pair has reached the bottom of the up-channel, so my suggestion is to start to take some profits now. Let's wait for today's action to see if we have a breakout, so we can continue make profits out of this trade.
Transakcja zamknięta: osiągnięto wyznaczony cel:
Take the profits at the bottom of the up-channel, before the weekend.
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