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Forex Trading Awareness : EURUSD Forecast on 11th May 2020

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.

    EURUSD Trade idea today
    Credit : InstaForex

Read AlsoRead Also : Benefits of Instaforex Binary accounts

  • 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 .)

(SourceInstaForex )

Tags : EURUSDEURUSD Trade idea on 11th MayEURUSD Trading on MondayEURUSD Trading StrategyForex Trading Strategy

The author Raj

Senior Editor of news portal. Working as reporter on ground level from last 10 years .