EUR/USD has been bearish on the daily chart for the last six trading days. Yesterday’s candle came out as a bearish candle as well. However, the candle closed within the level where the day before yesterday’s candle had a bounce. Thus, the buyers on the intraday charts may look for long opportunities in the pair. The H1 chart made a breakout at yesterday’s highest high. The price may come back at the breakout level and offer a long entry.
The chart shows that the price made a breakout at the level of 1.08510. As of writing, the price has been bearish in the last candle. If it comes back at the breakout level and produces a bullish reversal candle, the buyers may go long above the level of 1.08700.
Trade Summary
Entry: Buy above 1.08700
Stop Loss: Below 1.08510
Take Profit 1: 1.09180
Take Profit 2: 1.09335
Take Profit 3: 1.09600
Risk Warning: CFD and Spot Forex trading both come with a high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any payment from you. Given the possibility of losing more than your entire investment, speculation in certain investments should only be conducted with risk capital funds that if lost will not significantly affect your personal or institution’s financial well-being. Before deciding to trade the products offered by us, you should carefully consider your objectives, financial situation, needs and level of experience. You should also be aware of all the risks associated with trading on margin.
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