Keep Track of EURUSD and see which direction it will take
Expect
EURUSD
will go up a in short term, due to the following reasons
1.) Previous Support Level at Current Price (1.1335)
2.) A broke through of a down trend channel
2.1) Tapping back to the top of the downtrend channel (retracement) and expect to go up
SL : 1.1295 ( - 40 pips)
TP 1: 1.1375 (+ 40 pips - 1:1 ratio profit)
TP 2: 1.1415 (+ 80 pips - 1:2 ratio profit)
==========================================
BUT IF it brake through 1.1300 level (Entry Point)
THEN expect a retracement and will keep the down trend to
SL: 1.1361 ( - 61 pips)
TP: 1.1230 level (+ 70 pips - Support Level)
RRR is better in terms of LONG position.
EURUSD
will go up a in short term, due to the following reasons 1.) Previous Support Level at Current Price (1.1335)
2.) A broke through of a down trend channel
2.1) Tapping back to the top of the downtrend channel (retracement) and expect to go up
SL : 1.1295 ( - 40 pips)
TP 1: 1.1375 (+ 40 pips - 1:1 ratio profit)
TP 2: 1.1415 (+ 80 pips - 1:2 ratio profit)
==========================================
BUT IF it brake through 1.1300 level (Entry Point)
THEN expect a retracement and will keep the down trend to
SL: 1.1361 ( - 61 pips)
TP: 1.1230 level (+ 70 pips - Support Level)
RRR is better in terms of LONG position.
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