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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 )

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