EUR/USD Price Analysis: Scalping target achieved
|- EUR/USD bears have been in control on Tuesday and taking on critical support structures.
- The following illustrates the trading opportunities identified earlier in the day with positive outcomes.
As per the prior analysis, EUR/USD Price Analysis: Bears waiting to pounce to test daily support, the price has reached the first target forecasted in the article.
Prior analysis
Prior live market update
As seen, the price is drifting lower through that horizontal support and bears may wish to start to look for an optimal short entry point at this juncture.
Prior 15-min trade setups
''As illustrated above, the price is now moving further lower which gives rise to a scalping opportunity as well as an intrasession trade set-up opportunity to target the daily support zone.
The scalping stop loss is based above the 20 EMA and horizontal resistance, as well as the dynamic resistance. The intrasession stop loss is above the correction's highs. ''
Live market update, target achieved
The resistances held and the price melted to the downside as expected.
At this juncture, the bears will be taking profits and unless daily support gives at 1.1683 that could be all from the bears for now and until Europe comes online.
Those bears shorting for longer daily downside targets may already have their profits booked partially and moved position to breakeven.
Information on these pages contains forward-looking statements that 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 assets. You should do your own thorough research before making any investment decisions. FXStreet 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 Open Markets 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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.