EURUSD long scalp worth consideration despite current short bias
After a significant drop without any form of retrace as of yet it is worth considering a long scalp on EURUSD. This is despite my belief that trades in general should have a short bias on EURUSD at this particular moment.
A long scalp offers significant risk-return metrics at current levels.
The price has recently respected the 1.272 fib extension, the daily S2 pivot point and an uptrending price support level. The RSI is also now below 30. It is reasonable to expect that this level will hold at least in the immediate term and thus short term upside here may be on the cards from this level. The fact the past hour closed has put in a higher low and has put in a long wick to the upside adds confidence in this long call.
A long scalp offers significant risk-return metrics at current levels.
The price has recently respected the 1.272 fib extension, the daily S2 pivot point and an uptrending price support level. The RSI is also now below 30. It is reasonable to expect that this level will hold at least in the immediate term and thus short term upside here may be on the cards from this level. The fact the past hour closed has put in a higher low and has put in a long wick to the upside adds confidence in this long call.