EURUSD: How to Trade at 1.17000 Support
The price reached the support zone formed by SMA200 and 1.17000 support level. The price action at this zone will be able to give us interesting trade opportunities. If we talk about trading in the direction of the daily timeframe, it will be better to wait for a possible breakout below the support zone. It will give a trade opportunity for shorting. If the price can stay above the support, we will be able to get a buying opportunity. I would prefer to open long trade following the breakout above SMAs but not a reversal signal from the support.
All trades must be supported by solid bullish or bearish signals. Stop orders must be placed above and below the local swing highs and lows. Risk per trade must be no more than 1-2% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
All trades must be supported by solid bullish or bearish signals. Stop orders must be placed above and below the local swing highs and lows. Risk per trade must be no more than 1-2% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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