Euro does not give up and is gaining momentum again on Forex
Following the news release, the Euro leapt forward against many currencies. In the currency pair with the US dollar, the price bounced off the resistance level, but the price did not fall much. This resistance level can be used as an entry point to the market to open order because this level is traced and its breakout will serve as a good signal. Take profit is best placed at 1.2050 because it is a multiple of 50 and coincides with the next resistance level. Considering that this currency pair has not been very volatile lately, the target of 55 pips will suit any intraday trader.
Order Type: Pending Order - Buy Stop
Entry Price: 1.19950
Take Profit: 1.20500
Pips Earning: 55
The result of a trading analysis for this currency pair. The price reached the take profit level on the 5th day.
In case of opening a position on this trading recommendation, the profit can be $550.00 with the order volume is 1 Lot.