EURUSD - Bullish Trend - 1 Hour Time Frame
Based on the current price chart, it appears that the market is forming a bullish trend, as evidenced by the presence of higher highs (HHs) and higher lows (HLs). Additionally, there is currently no divergence showing on the Relative Strength Index (RSI).
As a result of this analysis, we will take a long trade with a 1:1 risk/reward ratio. Our entry point will be at a buy stop of 1.09841, while our stop loss will be at 1.09187. We will use a lot size of 0.13 and aim to take profit at two levels: 1.10472 and 1.11118.
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
As a result of this analysis, we will take a long trade with a 1:1 risk/reward ratio. Our entry point will be at a buy stop of 1.09841, while our stop loss will be at 1.09187. We will use a lot size of 0.13 and aim to take profit at two levels: 1.10472 and 1.11118.
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.