Trade Idea Update: EUR/USD - Buy at 1.0650
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Trade Idea Update: EUR/USD - Buy at 1.0650
Candlesticks and Ichimoku Intraday |
Written by Action Forex |
Buy at 1.0630, Target: 1.0730, Stop: 1.0595
Buy at 1.0650, Target: 1.0750, Stop: 1.0615
As the single currency found renewed buying interest at 1.0579 and has surged above indicated previous resistance at 1.0685, adding credence to our bullish view that recent rise from 1.0340 low is still in progress for retracement of early downtrend to 1.0740-45 (100% projection of 1.0340-1.0627 measuring from 1.0454) and then towards 1.0770 but price should falter below 1.0800-10 (100% projection of 1.0454-1.0685 measuring from 1.0579), bring retreat later.
In view of this, we are looking to buy euro on minor pullback but at a higher level as 1.0650 should limit downside and bring another rise. Below 1.0615-20 would defer and suggest top is possibly formed, bring correction of recent rise to 1.0590-95 first.
Candlesticks Intraday Trade Ideas Update Schedule (GMT):
1st Update: 0630 – 0700; 2nd Update: 0930 – 1000; 3rd Update: 1230 – 1300; 4th Update: 1500 – 1530
Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF
Elliott Wave Daily Trade Ideas Update Schedule (GMT):
AUD/USD, EUR/JPY: 0800 – 0830; EUR/GBP, USD/CAD: 1430 – 1500 GMT
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