Buy EURUSD
Trade Parameters:
Currently sitting right on the 100 SDMA, we are currently close to decent resistance, with 1.0825 being the 50% pivot of the move from 1.1299/1.0340, but with the 4 hour/daily indicators looking to align higher, it appears that we should take advantage of any short term weakness to buy the dips, looking for a break above 1.0820/25 to where the next real level to watch would be at the 8 Dec high @1.0873, beyond which the next Fibo resistance is not seen until 1.0932. The hourlies are now overbought, so looking to buy the dip seems to be the plan, with a SL placed under 1.0693 (61.8% of 1.0620/1.0811), @ 1.0685.
Bear in mind that it is the FOMC tonight. A hawkish Statement could turn this theory around rather quickly!
EURUSD:
Buy 50 % @ 1.0770; Buy 50% @ 1.0740
SL 100% @ 1.0685
TP 100% @ 1.0920
Currently sitting right on the 100 SDMA, we are currently close to decent resistance, with 1.0825 being the 50% pivot of the move from 1.1299/1.0340, but with the 4 hour/daily indicators looking to align higher, it appears that we should take advantage of any short term weakness to buy the dips, looking for a break above 1.0820/25 to where the next real level to watch would be at the 8 Dec high @1.0873, beyond which the next Fibo resistance is not seen until 1.0932. The hourlies are now overbought, so looking to buy the dip seems to be the plan, with a SL placed under 1.0693 (61.8% of 1.0620/1.0811), @ 1.0685.
Bear in mind that it is the FOMC tonight. A hawkish Statement could turn this theory around rather quickly!
EURUSD:
Buy 50 % @ 1.0770; Buy 50% @ 1.0740
SL 100% @ 1.0685
TP 100% @ 1.0920
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.