EURUSD - Counter-trend trade opportunity!
Hello, It really feels good to be back in-front of my desk! I unfortunately had a very dismal start of the year but I am back and ready to smash this year and to post trade ideas on a more regular basis! If you have any trades you'd like me to go over - Message down below or private message. It's free!
Now, Last week - I did miss out the great DXY strength we got - " SQUEEZED!". But, as I always say - the market is full of beautiful opportunities, really does depend on your patience.
EUR - COULD Head down towards 1.20 and perhaps 1.19/1.18 before a further increase to areas of resistance: 1.25 - 1.34 - 1.40!
Resistance Areas: 1.22210 - 1.22415
Support Areas: 1.21660 - 1.21200 - 1.20810
Pattern wise: Descending wedge formation broke out, any pull back towards 50 EMA would find a reaction of resistance. Measuring the pattern - target = 1.20800 Areas.
Please do remember, this is a counter-trend trade idea. For those Dollar bears - Yeah I agree Medium/Longer term I am of course bearish the dollar but I do really like a good risk/reward towards my trades and if we do head towards 1.20 and lower I will be of course buying into EUR further more towards longer term resistance areas.
Key Tip: Follow your own trade plan and execute wisely with the correct risk management.
Have a great week ahead.
All the best,
Trade Journal (TJ)
Remember: Just a trade idea, not a recommendation.
Hello, It really feels good to be back in-front of my desk! I unfortunately had a very dismal start of the year but I am back and ready to smash this year and to post trade ideas on a more regular basis! If you have any trades you'd like me to go over - Message down below or private message. It's free!
Now, Last week - I did miss out the great DXY strength we got - " SQUEEZED!". But, as I always say - the market is full of beautiful opportunities, really does depend on your patience.
EUR - COULD Head down towards 1.20 and perhaps 1.19/1.18 before a further increase to areas of resistance: 1.25 - 1.34 - 1.40!
Resistance Areas: 1.22210 - 1.22415
Support Areas: 1.21660 - 1.21200 - 1.20810
Pattern wise: Descending wedge formation broke out, any pull back towards 50 EMA would find a reaction of resistance. Measuring the pattern - target = 1.20800 Areas.
Please do remember, this is a counter-trend trade idea. For those Dollar bears - Yeah I agree Medium/Longer term I am of course bearish the dollar but I do really like a good risk/reward towards my trades and if we do head towards 1.20 and lower I will be of course buying into EUR further more towards longer term resistance areas.
Key Tip: Follow your own trade plan and execute wisely with the correct risk management.
Have a great week ahead.
All the best,
Trade Journal (TJ)
Remember: Just a trade idea, not a recommendation.