forexTrdr
Long

forexTrdr EURUSD - EURO LOOKING TO MOVE BACK INTO UPPER RANGE?

FX:EURUSD   Euro / U.S. Dollar
Morning traders,

Looking at the setup on Euro versus US dollar after the pair sold back down to support around 1.12 area as per our trading view chart. Stochastics and support are the main drivers behind our view that the pair is likely to head higher back to 1.125 area before trading around resistance at 1.1260 then potentially breaking higher towards 1.13.

Stochastics as per our tradingview chart is down in oversold territory and at levels we saw last Wednesday when we printed the recent low. Hence we have the same level of Stochastics but a lower low thus pointing to the pair trading higher from here. RSI is also finding support around the mid point.

We called last weeks bounce perfectly- looking to do the same again this week (see attached trade idea on trading view)

As always we try to keep our analysis clean and easy for anyone to be able to follow but should you want to learn more then please do get in touch.

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Good luck trading

from the Team at forexTrdr



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Trade closed: stop reached: Was only a matter of time until we clocked up a loss by process of numbers- stochastic analysis said one thing.. EURUSD decided something else
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