2021-06-10 • Updated
H4 chart
Daily chart
Two days ago, we sent out a new short trade on EUR/USD at 1.2180 in addition to a pending order to short again at 1.2205. EUR/USD managed to rise yesterday, all the way to 1.2218 before tumbling back to 1.2155 earlier today. With that being said, both positions are in profit with over +100 pips combined. Today, all eyes are headed toward the ECB decision which likely to have a major impact on EUR pairs. Therefore, it’s wise to protect our trade by moving the stop from 1.2225 to our entry. By doing this, the trade is now “Risk-Free” the worst-case scenario if EUR/USD spike to our stop, we will get stopped out without any loss. On the other hand, the next support area stands at 1.2110, while a breakthrough that support might lead to a deeper decline towards 1.2065.
|
S3 |
S2 |
S1 |
Pivot |
R1 |
R2 |
R3 |
|
1.2096 |
1.2143 |
1.2161 |
1.2190 |
1.2208 |
1.2237 |
1.2284 |
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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