I don’t post all my trades on here. It would be even more boring for you than it is but I love this EURUSD short that I’m set up in.
Firstly, there is a nice big downtrend back from January. Secondly, a nice evening star has appeared. Thirdly there is this on FXStreet.
EUR/USD falls toward 1.20 as the dollar gains further ground
EUR/USD is under pressure as the dollar gains ground across the board, amid a damp market mood. The euro fails to benefit from the European regulators’ decision to reinstate the J&J vaccine.
So we have fundamentals that the dollar is gaining further ground and the technicals from the start, I’m looking at taking profit at around 1.180 and then 1.150 in extension and stop at 1.209. Good risk-reward at around 4 to 1, good trade set up and I think the right time to enter.
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