EURUSD - got even better today!

Depending on the entry point, you should have your SL set for BE

EURUSD – short term correction?

EURUSD – short term correction?

EURUSD is getting close to a strong support zone 1.3140-1.3160. Considering that this Friday we have NFP, EURUSD might consolidate around this level being ready to break through on positive news, or bounce upwords and keep consolidating between 1.3150 to 1.3400 zone, otherwise.
Looking at H1 chart there is one of my favourite reversal patterns forming right now.
Decelerating three lower lows while EURUSD is loosing steam, and reaching strong support zone. You can also observe lately that the same setup gets realized through four lower lows at a level, and do have a space for that here. Extra caution and a close look at price action is neccessary to spot possible signs demand. Hunting for a temporary bottom is definately harder then following the trend, but sometimes it’s worth a risk as we can profit handsomely. We trade this kind of setups as swing trades trying to achive at least 1:3 risk-reward ratio.

Waiting for EURUSD to bounce back to 1.3280 and price action gives a reason I'm taking short towards 1.3220
On the other hand if  EURUSD keeps charging up thru 1.3280, then if possibility arises I'll be looking for a long trade to grab about 30 pips.

Looking for longs untill 1.3240 is significantly broken

EURUSD longs still in favour

EURUSD longs still in favour

Looking to go long between 1.3294-1.3303 to at least test 1.3400 once again.
Alternatively below 1.3290 I will be looking for a short term short trade.
Since there is a chance of bouncing to the long side already here at 1.3320, playing momentum long above 1.3345 towards 1.3400 makes sense. Once we get there it is necessary to observe price action to decide about taking that trade

EURUSD long until proven wrong?

Technically speaking, between 1.3190 and 1.3205 go long until proven otherwise, and by otherwise I comprehend a meaningful break below 1.3175.
First take profit levels:
for a long position: 1.3300
for a short position: 1.3100

Longer term view:
temporary consolidation between 1.3000 and 1.3200 with possibility of grinding up towards 1.3255

In the short term a good daytrading level is 1.3184 (today's pivot)
Either taking a short towards 1.3160 or a long towards 1.3205 should give a nice 20 pips profit