EUR/USD Trade Update: Anticipating Breakout and Potential
Trade Status:
Our
EURUSD
trade is active, with attention centered on the pivotal 1.0685 resistance level. We're closely monitoring for a breakout opportunity.
Target and Rejection Scenario:
Should
EURUSD
breach 1.0685, our target extends to the monthly open at 1.0792. However, with the looming GDP data release on Thursday, we're prepared for the possibility of a rejection.
Post-Rejection Target:
In the event of a rejection, our subsequent target remains at 1.0585. This level serves as a strategic area of potential support.
Trade Strategy:
Consider entering a long position upon a confirmed breakout above 1.0685, targeting the monthly open at 1.0792. Then In the event of a rejection at the time of GDP data, our subsequent target remains at 1.0585.
Implement robust risk management practices, including setting stop-loss orders to safeguard against adverse market movements.
Remain vigilant for post-GDP data reversals and adjust positions accordingly to manage risk exposure effectively.
Our
EURUSD
trade is active, with attention centered on the pivotal 1.0685 resistance level. We're closely monitoring for a breakout opportunity. Target and Rejection Scenario:
Should
EURUSD
breach 1.0685, our target extends to the monthly open at 1.0792. However, with the looming GDP data release on Thursday, we're prepared for the possibility of a rejection. Post-Rejection Target:
In the event of a rejection, our subsequent target remains at 1.0585. This level serves as a strategic area of potential support.
Trade Strategy:
Consider entering a long position upon a confirmed breakout above 1.0685, targeting the monthly open at 1.0792. Then In the event of a rejection at the time of GDP data, our subsequent target remains at 1.0585.
Implement robust risk management practices, including setting stop-loss orders to safeguard against adverse market movements.
Remain vigilant for post-GDP data reversals and adjust positions accordingly to manage risk exposure effectively.
Trade active
Trade active:
+60 pips
Trade active:
+110 pips
Trade closed: target reached