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Good morning traders! An analysis of the EUR / USD pair.
Last week, two trading ideas for shorting the pair were presented, but the instrument steadily rose up, ignoring the assumptions. This morning, it even passed the price level of 1.18600, which cancels the short scenario.
Nonetheless, it is important to note the two very important areas for the bulls, which are the double bottom between August 13 and 14, and the monthly level of buyers at 1.17:
Such areas are very rare especially on popular trading instruments, so sooner or later, the market will take them with pleasure.
They can be picked up either through a false breakout, or after a short initiative and a pullback, as shown in the figure below.
It can also be waited on through a signal on the daily chart, relative to the Price Action strategy.
In any case, the targets for short positions remain attractive, with which the higher the pair goes, the more profitable the sell transactions will be.
Needless to say, controlling the risks is necessary to avoid losing profit.
Good luck and have a good day! Stay safe.
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