Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries EUR/USD potential upward movement, Inverse head & shoulder pattern By: Invezz September 12, 2023 at 08:35 AM EDT Trade idea summaryBuy/sell asset: Buy EUR/USDEntry price: 1.07135Stop loss: 1.06778Leverage: 3xTake profit 1: 1.07519Take profit 2: 1.08000Take profit 3: 1.08650Timeframe: 1 weekMaximum profit: 4.2%Maximum loss: 1.05%EUR/USD chart & technical analysisEURUSD is indicating upward trend in making and market structure is turning bullish. Inverse/Bullish head and shoulder pattern is an important reversal pattern which indicates bullish trend ahead.Price has been bearish for a couple of months. However, this going to change as price is making higher highs and has reached major weekly support level 1.06868. All technical strategies indicates bullish trend in making and 1.07153 is perfect price to jump in.Price is possibly going to drop and retest the right shoulder of the pattern which is around our entry price and will go for new highs.EUR/USD fundamental analysisThere are no major news events today, however CPI news is due tomorrow which could impact market significantly.However, I believe till then we would be in good profit.EUR to USD trade setup takeawaysI expect this trade to playout all the way to 1.08650. However, we have added numerous take-profit levels to ensure we win even if it doesn’t. I don’t expect the stoploss to hit, but good risk management means we only lose 1.05% if it goes the other way. I’ll be watching this for at least 1 week. If for any reason other factors affect this and charts change dramatically, I will exit the trade immediately. Good luck!The post EUR/USD potential upward movement, Inverse head & shoulder pattern appeared first on Invezz. Related Stocks: First Trust Alphadex Euro Div ETF Ultra Semiconductors 2X ETF Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
EUR/USD potential upward movement, Inverse head & shoulder pattern By: Invezz September 12, 2023 at 08:35 AM EDT Trade idea summaryBuy/sell asset: Buy EUR/USDEntry price: 1.07135Stop loss: 1.06778Leverage: 3xTake profit 1: 1.07519Take profit 2: 1.08000Take profit 3: 1.08650Timeframe: 1 weekMaximum profit: 4.2%Maximum loss: 1.05%EUR/USD chart & technical analysisEURUSD is indicating upward trend in making and market structure is turning bullish. Inverse/Bullish head and shoulder pattern is an important reversal pattern which indicates bullish trend ahead.Price has been bearish for a couple of months. However, this going to change as price is making higher highs and has reached major weekly support level 1.06868. All technical strategies indicates bullish trend in making and 1.07153 is perfect price to jump in.Price is possibly going to drop and retest the right shoulder of the pattern which is around our entry price and will go for new highs.EUR/USD fundamental analysisThere are no major news events today, however CPI news is due tomorrow which could impact market significantly.However, I believe till then we would be in good profit.EUR to USD trade setup takeawaysI expect this trade to playout all the way to 1.08650. However, we have added numerous take-profit levels to ensure we win even if it doesn’t. I don’t expect the stoploss to hit, but good risk management means we only lose 1.05% if it goes the other way. I’ll be watching this for at least 1 week. If for any reason other factors affect this and charts change dramatically, I will exit the trade immediately. Good luck!The post EUR/USD potential upward movement, Inverse head & shoulder pattern appeared first on Invezz. Related Stocks: First Trust Alphadex Euro Div ETF Ultra Semiconductors 2X ETF