Trade Plan (Pending): I am selling EUR/USD at 1.0900
DXY (USD Index) - buyers emerged at our bespoke support zone of 103.53-103.47. We have posted a short-term bullish reversal formation. I am looking for a rally to our resistance level at 104.90. There is ample scope for a retest of this support zone (dips to be bought).
EUR/USD - sellers emerged in front of our projected upside barrier of 1.0901. Although we have seen mild selling pressure, price action has been restricted to the upper half of Tuesday's range. This highlights the lack of follow-through selling.
I have had a signal to Buy DXY. EUR/USD offers the best correlation setup (countertrend).
I am selling EUR/USD at 1.0900
SL: 1.0960
TP1: 1.0722
Risk/Reward Ratio of 2.97
#tradeplan #EURUSD
EUR/USD - sellers emerged in front of our projected upside barrier of 1.0901. Although we have seen mild selling pressure, price action has been restricted to the upper half of Tuesday's range. This highlights the lack of follow-through selling.
I have had a signal to Buy DXY. EUR/USD offers the best correlation setup (countertrend).
I am selling EUR/USD at 1.0900
SL: 1.0960
TP1: 1.0722
Risk/Reward Ratio of 2.97
#tradeplan #EURUSD