Forex Trading : EURUSD Forecast
As the economy slowly begins to reopen, market participants are focused on oncoming data to the spread of novel coronavirus and the impact on consumer spending; major currency pairs may check huge volatility due to the US Dollars mixed with breakout in early trade.
EURUSD Trading Strategy today
- EURUSD approaching resistance , potential drop
- Entry level – 1.08941
- reason for entry : horizontal overlap resistance , 50% Fibonacci retracement and 61.8% Fibonacci extension.
- Take trade profit : 1.07749
- Reason for take profit : Horizontal swing low profit
- Stop Loss : 1.09318
- Reason for stop loss : Horizantal swing high resistance , 61.8% Fibonacci retracement .
(This simply a trade strategy because of awareness , but to give instructions to make trade .)
(Source – InstaForex )