Hi,
As you know, EURUSD has been bearish for quite some time but after the NFP release today it has shown bullish reaction to the news.
It could be for the end of the week and profit taking.
Technically speaking we are at 0.887 retracement ratio right now both in Time and Price.
I personally took this trade because such a balance doesn't happen often and when it does, their synergy causes a really high probability trade.
On the other hand, the stop is too tight, so if it fails I won't lose much.
The target has been set to the previous low, because according to what EURUSD has been doing this trade is expecting a new low.
Thank you for reading this.
Davood Wadi
As you know, EURUSD has been bearish for quite some time but after the NFP release today it has shown bullish reaction to the news.
It could be for the end of the week and profit taking.
Technically speaking we are at 0.887 retracement ratio right now both in Time and Price.
I personally took this trade because such a balance doesn't happen often and when it does, their synergy causes a really high probability trade.
On the other hand, the stop is too tight, so if it fails I won't lose much.
The target has been set to the previous low, because according to what EURUSD has been doing this trade is expecting a new low.
Thank you for reading this.
Davood Wadi