EURUSD Swing Long

  • Thread starter Thread starter Leebax
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Leebax

Master Trader
Aug 16, 2019
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Looking at EURUSD today. i saw that it was in a zone of strong demand. i think around the 1.09000 area it has good chance of reversing. We are getting squeezed down in this long term downtrend.
You could look for reversal signs around this area and get tight stop loss on a Buy, you can see in multiple times in the past it does find good support around here. Good R:R could come from it. You would look to stack if it breaks out of the trend and retests before a bigger move up, this would be ideal situation, but the swingers among us can buy cheap prices around this area. Risk management as always and wait for that exhaustion in price before enteringScreenshot_2.png
 
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Yep, hasn't been below 1.09 since early 2017 so I'll be surprised if it breaks through
 
Price is pushing down strong and dipped below the 1.09, need to be patient and let Price Action determine the next move.
 
Looking at a pair today that i dont often visit. But EURUSD looks to be in an interesting position. Possibility for a nice small short back down to support with a tight stop loss, or a patience for the buy when we meet support again. For certain looks like a new bull has been formed. Broker out of the long term downtrend, currently majorly overbought. The moving averages are about to cross underneath so its possible we could see a drop here, to let time catch up with the averages and collect more support for a further push. NFP today though so be careful, but it could be the catalyst for the short term drop . Stay safe risk management as alwaysScreenshot_25.png
 
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