⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

Late U.S. Session Trade: Short EUR/USD 1.1899-1.1908

Posted Friday, August 25, 2017 by
Shain Vernier • 1 min read

A key level is coming into play for the EUR/USD. As mentioned earlier in the session by my colleague Skerdian, a strong topside resistance level present at 1.1900 to 1.1908. Price action has broken out to the bull during today’s U.S. session. A possible test of this level may be coming soon.

 

Technicals

Awhile back I mentioned the probability of the EUR/USD returning to test the 1.1900 level. It took longer than anticipated, but it looks as though the year’s uptrend has resumed.

EUR/USD 60 MinuteEUR/USD 60-Minute Chart: Challenge of 1.1900

 

Bottom Line: 1.1900 to August’s high of 1.1908 is an area of interest and one that will be hotly contested. A short trade from here is a premium.

I am looking at an entry zone of 1.1899-1.1908 for the short. A 1:1 scalp will be my initial play, with a longer term position held looking for 2:1 and 3:1 risk once price exhaustion has been confirmed.

As always, trade smart and for tomorrow!

 
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments