Hello Friends,
Euro well dropped yesterday from 1.2610 resistance but keeps 1.2500 strong support as yet. My view is keeping this support for coming days too and I assume corrective bullish move ahead of next week below 1.2800 and above 1.2500. For today expect side way moves in 1.2520-1.2620/40 range. My recommendation is selling pair above 1.2600 for 30-50 pips profit taking.
Good luck
Euro could close today around 1.2600 so be cautious regarding selling pair, try to exit from short trades around 1.2550/60.
Hi Reza,
Can you suggest a good entry to buy Eur/Usd ..and what should be the stoploss.
Hi Karunesh,
I'm not euro buyer as long as we have strong sloping channel intact, In other word below 1.2700 Euro moves are corrective and buying the pair is highly risky. My preferred trades are selling in resistances. If you are long on this pair book your profit around 1.2600, honestly I don't see much more room above 1.2610/20 for today.
Thanks for your insight..I thought you were bullish on euro for the next week ..So i thought there be some buying opportunity around 1.25 area..
Have a nice weekend........ :)
Yes karunesh
I see bullish correction ahead but don't forget entering market in corrective direction is not wise trade.
Thanks ccmsp, wish good weekend for you too..:)
Thanks Again.. Reza if Euro is in bearish phase..how long do you expect the bullish correction to extend..so that i can get idea where to short Euro..
Karunesh, In fact corrective phase is step by step at all and could have complex shape such as triangle, ABC zigzag, flat or combined one, after every step move we can estimate next step targets and probabilities but from other methods, euro first step correction could be reached to 1.2660-1.2700 area where next step shorts could be seen.
Thanks a lot Reaz for your time and patience.I have placed a sell stop order at 1.2615 with a stoploss of 40 pips and take profit 30 pips..Thanks again and have a nice weekend..
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