EUR/USD - Downside Opportunity
What's up traders, today we have an opportunity on EUR/USD with a breakout trade on the 8H chart.
This is an excellent opportunity to get into a trade where all trading scenarios I have played out indicate at least a 3:1 Risk to Reward.
If price breaks structure, I am expecting a down move to around 1.1692 (Which is where price will find strong support). Bare in mind that price will likely have a corrective move before the down move.
Dollar is currently in process of forming an up move. With this logic, seeking a short position on EUR/USD makes a lot of sense.
I will be updating this analysis in the updates section, so like & follow to receive the latest.
This is an excellent opportunity to get into a trade where all trading scenarios I have played out indicate at least a 3:1 Risk to Reward.
If price breaks structure, I am expecting a down move to around 1.1692 (Which is where price will find strong support). Bare in mind that price will likely have a corrective move before the down move.
Dollar is currently in process of forming an up move. With this logic, seeking a short position on EUR/USD makes a lot of sense.
I will be updating this analysis in the updates section, so like & follow to receive the latest.
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