acsedward

EUR/USD Daily Chart: Short-Term Long to Monthly 0.5 & FxSignals

Long
FX_IDC:EURUSD   Euro / U.S. Dollar
Following the previous analyses, we've taken a trade long on the EUR/USD pair. We expect current demand to bring the price up to the monthly 0.5 level of resistance, then we'll close out this very short-term trade and watch for an opportunity of changing hands and re-enter in favour of the monthly short side.

Wish you guys good trading and if you enjoy this analysis, please give me a like and share your ideas on the comments section, I'll really appreciate feedback from you guys and I promise to read and reply to each and every one of them as soon as possible.

An amazing week for all of you and until the next post! :)

Comments

what we want to take this trade for 1 day
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acsedward kirannp1234
@kirannp1234, First off, hello! Thanks for commenting on my post! Now, to your question: If I got you right, my answer is no. This is a swing trade, a short-term long position with an entry around the open/close of the current candle. It's unlikely either the stop or target are going to be reached within this or even the next candle. As always, there's the chance of long wicks hitting your stop loss, so be aware of that risk before choosing whether or not to place an entry position. You may notice that I'd placed the stop loss behind the long-term trendline, the 0.382 support level and at the low of the 20/11/05 candle.

I hope I was able to answer your question, but feel free to ask more if you wish so! Have a nice trading! :)
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