EURUSD 1H

1. Support Level at 1.08687: As long as the price remains above 1.08687, this level serves as a key support. In technical analysis, a support level is a price point where an asset tends to stop falling and rebounds due to increased buying interest. Traders should monitor this level closely. If the price approaches but does not fall below 1.08687, it may indicate strong market support, suggesting a good opportunity to enter a buy position or hold an existing long position.

2. Take Profit Level at 1.09160: The target or take profit level is set at 1.09160. This is the price at which a trader aims to close their position to secure profits. Once the price reaches 1.09160, it is advisable to sell or take profits, as this level has been identified as a point where the asset might face resistance and potentially reverse. Planning the exit at this level helps in maximizing gains while managing risk effectively.

3. Waiting for confirmation before entering a trade helps in improving the quality of trades, increasing the probability of success, and effectively managing risks.

In summary, the strategy revolves around buying or holding as long as the price stays above the support level of 1.08687 and aiming to take profits when the price reaches 1.09160. This approach balances risk management with profit-taking, leveraging key technical levels to make informed trading decisions.