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EURUSD Technical Analysis And Trade Idea 03-23-2018

EURUSD Technical Analysis And Trade Idea 03-23-2018

Yesterday in the channel we have shared our short-term trade idea of EURUSD.

EURUSD

LONG:  Above 1.23320
STOP:  1.22920
TARGETS: 1.23590 1.23740 1.23900

On the H4 Chart, we see the pair is trading in a descending channel and forming a triangle. It must break out the triangle to make a bigger move.

1.23660 is the first resistance. The real Bullish move may start by the breakout of 1.23990 resistance.

1.22980 is the main support. If the pair breaks below 1.22980 support, the target will be 1.22010. And1.22010 will be our LONG entry level.

As mentioned in the Midterm Forecast, EURUSD is trading in No Man’s Land.

Hope our current LONG trade reaches the targets.

Today is Friday. Low Volume High Volatility.

DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.

 

 

 

EURUSD Technical Analysis:   Involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility
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