Here is an update on EUR/USD
Note: EUR/USD has broken above the Descending channel
RECAP:
In our previous analysis we expected EUR/USD to be bearish and had Sell Stop positions opened @ 1.20300. as EUR/USD was below resistance at 1.20600 and was trading within the descending channel.
EUR/USD broke this resistance at 1.20600 and continued to go up triggering our Buy Stop at 1.20900 and hitting our TP 1 at 1.21100.
So regardless of not meeting our expectation we still capitalized on the bullish momentum and are in profits.
WHAT TO EXPECT:
EUR/USD is currently trading at 1.21180
We expect it to retrace back to 1.21000-1.20800 range before continuing upward towards 1.21500, 1.21800 & 1.22000
We have opened Buy Stops @:
Buy Stop @: 1.21400
Buy Stop TP @: 1.21700
On the other hand if EUR/USD were to fall back below 1.20600 our previous Sell Stop is still active
Sell Stop @: 1.20300
Sell Stop TP: 1.20000
EURUSD
EURUSD
Note: EUR/USD has broken above the Descending channel
RECAP:
In our previous analysis we expected EUR/USD to be bearish and had Sell Stop positions opened @ 1.20300. as EUR/USD was below resistance at 1.20600 and was trading within the descending channel.
EUR/USD broke this resistance at 1.20600 and continued to go up triggering our Buy Stop at 1.20900 and hitting our TP 1 at 1.21100.
So regardless of not meeting our expectation we still capitalized on the bullish momentum and are in profits.
WHAT TO EXPECT:
EUR/USD is currently trading at 1.21180
We expect it to retrace back to 1.21000-1.20800 range before continuing upward towards 1.21500, 1.21800 & 1.22000
We have opened Buy Stops @:
Buy Stop @: 1.21400
Buy Stop TP @: 1.21700
On the other hand if EUR/USD were to fall back below 1.20600 our previous Sell Stop is still active
Sell Stop @: 1.20300
Sell Stop TP: 1.20000
EURUSD
EURUSD
