empty
 
 
11.09.2020 09:11 AM
Trading idea for EUR/USD

This image is no longer relevant

Euro initially rallied amid the announcement of unchanged ECB policy, but then on the US trading session, price reversed and formed a bearish pin bar on the daily chart.

This image is no longer relevant

To follow this short scenario and push EUR / USD further down in the market, use Elliott Wave Theory to find which levels to set up positions.

This image is no longer relevant

Thus, view yesterday's impulse as wave A, and open short positions after a pullback from the current prices.

Take profit after a breakout from 1.1755, and then around price level 1.17.

This idea shall remain profitable until the quote consolidates above 1.19.

Of course, controlling the risks is also necessary in order to avoid any losses.

Best of luck!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback