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EURUSD Trading Analysis

Posted on Nov 1st, 2018

by colibritrader

EURUSD Trading Analysis

Dear traders,

The trade from last time has returned around 150 pips so far. I am not in this trade any longer, since I can feel the trend is getting exhausted.

On the contrary, I am monitoring another currency pair.

EURUSD Trading Analysis

I shared with my followers today my intraday EURUSD analysis. You can see it here:

I was sharing my thoughts with my Twitter followers.

I have been waiting for a pull-back, which never came. I am still looking for the price to come down a bit from the highs.

If that happens, I will consider taking a long position. I will be particularly paying attention to the 4H chart and the price action around 1.1375.

A couple of additional factors telling me it is time to go long soon:

Daily Bullish Engulfing Candlestick
Major support level at 1.1300

Based on those and my other observations I might take a long trade depending on future price action.

Happy Trading,

Colibri Trader

p.s.

Check out my recent article on pros and cons of using trailing stops

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