instaforex-nigeria-analytics-banner2

Instaforex Nigeria Forex Analysis on EUR/USD for 25th to 27th October 2021

Instaforex Nigeria Forex Analysis on EURUSD

EUR/USD rolled back as expected, which opens new opportunities to take long positions.

Instaforex Nigeria Forex Analysis on EURUSD

As seen clearly in the chart, there are three wave patterns (ABC), where wave A represents the buying pressure last October 11-19. Following the previously presented plan, traders should buy up to the 61.8% and 50% retracement levels of 1.16 and set stop loss at 1.15550.

Then, close 2/3 of the position on the breakdown of 1.16700.

Close the remaining 1/3 on the breakdown of 1.19000.

Refrain from taking short positions, otherwise, profit may be lost. This analysis is based on Price Action and Stop Hunting strategies. Good luck and have a nice trading day!

Click here to open a Live Trading Account with Instaforex Nigeria

Disclaimer: This Instaforex Nigeria Forex Analysis on EURUSD is not a trading advice or instructions but meant to create awareness.

Add a Comment

Your email address will not be published. Required fields are marked *

10 − 4 =