Possible Short position for EURUSD : Holding until next week
Possible short position. Price has remained under the 200 EMA for several days and a few weeks, thus indicating another short bias. As you can see there is a clear trend line channel that has occurred and I will be following this channel and hopefully the price respects the channel also, there is a high probability that it will as there is no high impact news big enough to break the trend in the coming trading days. As it is Friday, will hold until next week and possibly throughout the week as it is on daily timeframe and I should allow price to run towards Take Profit with all 5 daily candles for next week. Keep an eye out for any updates as I will be following this pair closely.
EURUSD
EURUSD
Also there is a a nice Risk:Reward ratio on this position, standing at 6.09 which is equivalent to around 6/1