Overview:
The EUR/USD pair has broken a major support at the level of 1.2460. But in case the daily resistance is at the 1.2455 level, then the market will indicate a bearish opportunity from this area 1.2455/1.2420. Additionally, it is now approaching from this spot in order to test; therefore, it will probably start downside movement at this area and recover again. So, the market will indicate a bearish opportunity at the price of 1.2420/1.2455 (below 1.2455 look for further downside) and it will be a good sign to sell at this spot with a first target of 1.2366 (the double bottom will set at the point of 1.6324), and continue towards 1.2333. However, if a break in 1.2475 takes place, then it will be a good area for placing the stop loss.
Notes:
- It should be noted that the market will turn bearish from the level of 1.2460.
- Volatility: 314.45; therefore, the market indicates the higher volatility.
It should be noted that:
- Take profit = 45 pips.
- Stop loss = 30 pips.
- Take profit = 3/2 * Stop Loss.
- Stop loss should never exceed your maximum exposure amounts.
- Risks to reward ratios are important and should be calculated.
No comments:
Post a Comment