EUR/USD long trade idea

24 Okt

EUR/USD long trade idea. This long entry is based off of a few things. Firstly, RSI is oversold and the RSI made a bullish cross over the RSI-based MA. Secondly, the 1.0761 area was a major support area on 4/1/24, 8/1/24, 10/23/24. Third, an ascending trendline from 4/16/24 low, 6/26/24 low and now 10/23/24 low. The stop level is based off fib retracement .786 from 4/16/24 low to 9/25/24 high. The take profit level is based off fib retracement .50 from 9/25/24 high to 10/23/24 low, plus 1/11/24, 3/8/24, 8/5/24 high area. My actual long entry executed was from 1.0764. However, it's simple enough to add a trailing stop loss as well.

EUR/USD long trade idea:

long = 1.0761
stop = 1.0732
profit = 1.0988

2 Nov

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5 Nov

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