Also take a look at my EurAud Active Trading Idea.
EurUsd is looking increasingly ugly. Bears managed to decisevly break 1.1000 and this is opening big room for a move towards 1.0520, so that this Should - Head - Shoulder formation will close its body.
I am currently in a Sell EurAud Position, but i would also be looking for selling opportunities in EurUsd, because technically AND fundamentally this is a very clean picture, thats worth selling.
My view would be to aggressivley sell rallies towards 1.1000 with a tight stop at about 1.1050.
Bears should be strong enough to defend the psychological very important 1.10 handle, and price should not close anymore above it.
I would be targeting 1.0600/0550. So there would be a decent Risk/Reward ratio in this position, with a potential 400 pip profit.
As always play it smart, dont rush anything, use proper risk management and dont over leverage but build calm consistent profits.
Good Luck!
EurUsd is looking increasingly ugly. Bears managed to decisevly break 1.1000 and this is opening big room for a move towards 1.0520, so that this Should - Head - Shoulder formation will close its body.
I am currently in a Sell EurAud Position, but i would also be looking for selling opportunities in EurUsd, because technically AND fundamentally this is a very clean picture, thats worth selling.
My view would be to aggressivley sell rallies towards 1.1000 with a tight stop at about 1.1050.
Bears should be strong enough to defend the psychological very important 1.10 handle, and price should not close anymore above it.
I would be targeting 1.0600/0550. So there would be a decent Risk/Reward ratio in this position, with a potential 400 pip profit.
As always play it smart, dont rush anything, use proper risk management and dont over leverage but build calm consistent profits.
Good Luck!
