On the daily time frame for EurUsd you can see that it has broken from the lower range a few days ago. After the range was broken it retraced a bit back up again to touch the lower range again from the other side before going back down again today. At the moment todays candly will close below the low of the green candle. This confirms that theres a good chance that next week eurusd will fall down further. If it does then 1.1080 - 1.1100 is the first target area. So my advice would be to sell EurUsd.
A safe stoploss would be this weeks high which is at 1.1260. If that price gets broken then expect 1.14-1.16 to be next. So in a scenario where eurusd breaks 1.1260 you can switch to the buying side for 140-340 pips.
But for now sell this pair with a stop at 1.1260 and a take profit at 1.1100. Feel free to move down you stop to 1.1140 when 1.1100 gets hit and move your take profit to 1.1040 and if that breaks on the daily close move TP to 1.0960
Enjoy the ride my friends <3
A safe stoploss would be this weeks high which is at 1.1260. If that price gets broken then expect 1.14-1.16 to be next. So in a scenario where eurusd breaks 1.1260 you can switch to the buying side for 140-340 pips.
But for now sell this pair with a stop at 1.1260 and a take profit at 1.1100. Feel free to move down you stop to 1.1140 when 1.1100 gets hit and move your take profit to 1.1040 and if that breaks on the daily close move TP to 1.0960
Enjoy the ride my friends <3
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Kommentar:
I also just notice that it shows a 5 wave elliot structure which might be complete. Only more reasons to sell :D