Euro / U.S. DollarUpdated Make or break level for EUR/USD, Best level to buy?
Hello traders, EUR/USD is currently at a make or break level.
Notice that EUR/USD has struggled at the moving average in the 4hour
chart. If the bulls are unable to take the price above 1.06, then we
might see further drops in EU.
Currently, I do not have any open positions in EUR/USD and I believe the
best approach right now is to wait and observe if price hits a key level
and then place trades.
In case, price falls to the 1.0450 level, I would definitely consider buying.
Notice that EUR/USD has struggled at the moving average in the 4hour
chart. If the bulls are unable to take the price above 1.06, then we
might see further drops in EU.
Currently, I do not have any open positions in EUR/USD and I believe the
best approach right now is to wait and observe if price hits a key level
and then place trades.
In case, price falls to the 1.0450 level, I would definitely consider buying.
Note
EURUSD is now below 1.0570 which is not a good sign for the bullsNote
Trade idea running in 40 pips profitNote
We have some USD data later in the day which will give some momentumto this pair
Note
EUR/USD seems to creating a base around the 1.05 level from where we can expecta trend reversal
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.