- Daily trading signals- complete with Entry Point, SL and TP
- Trading community- for you to ask questions and discuss market opportunities
- Pro Trading Course
300Eur instead of 450Eur
EurUsd- Medium-term trade with 1:5 R:R:
As I expected, EurUsd reversed from 1.1750 support and is now trading above 1.18 at 1.1830 at the time of writing
My outlook remains bearish for this pair and I consider this rebound a good opportunity to buy USD against the single currency.
A sell trade in the median resistance with an SL above 1.19 could also have a fabulous R:R for those who are patient with the trade for a few weeks.
A daily close above 1.19 would put a pause in my bearish view for EurUsd.
On Tuesday, GbpUsd broke the support area from under 1.32 confirming a medium-term trend change.
At this point, we assist to a normal relief rally and the pair can “come” to confirmation.
Sellers should wait for the correction to finish and to have a clear sell signal.
More aggressive traders can try to speculate this possible rally with a tight SL and a target towards 1.3150.
Note: Personally I would wait for a sell signal and go with the flow!
As I’ve said in my previous analysis, the false break above 0.67 zone marks a top for NzdUsd .
The pair dropped to 0.66 after this false break and now is correcting this move.
My opinion is unchanged from bearish in the medium term and I will look for opportunities to sell this pair for 0.6650 target.