EURUSD SHORT TRADE
EURUSD is still in a strong Bear market and i will only enter short positions until Ichimoku tell me otherwise. US home sales report was positive and that is also a positive point for bears. Dollar index is heading to test 87.58 level again and all Ichimoku lines are bullish.
On the daily Chart, price has tested a Pivot confluence zone and failed to break that level. 4Hr chart also shows price breaking the Kumo to the downside, future Kumo has just turned bearish. however the only point of concern is the Chikou Span location which is now going through the candle 26 period ago.
I entered the position at 1.23437 with stop at 1.24875 “almost 140 pips away”. first target will be 1.2217 and then 1.2156. my plan is to move my stop to break even as soon as i reach +30 Pips.
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- Daily US Dollar Index
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- Daily EURUSD Chart
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- EURUSD 4HR Chart
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- EURUSD HOURLY CHART
