I am long-term bearish on EURUSD but we have a textbook setup for a quick 1:1 long position on the H1 and H4 timeframes. On H1 you can see the EMA 50 is providing dynamic support and has formed a clean hammer candle. The hammer candle is now also visible on the H4 timeframe as well.
On the daily timeframe we are seeing strong resistance and I do see this pair moving down quick, so with that in mind we are not aiming too high.
Entry Price: 1.23650
Stop Loss: 1.23450
Take Profit: 1.23850
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
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