Trade Idea: Buy EURUSD

Trade Parameters:

Currently sitting right on the 100 SDMA, we are currently close to decent resistance, with 1.0825 being the 50% pivot of the move from 1.1299/1.0340, but with the 4 hour/daily indicators looking to align higher, it appears that we should take advantage of any short term weakness to buy the dips, looking for a break above 1.0820/25 to where the next real level to watch would be at the 8 Dec high @1.0873, beyond which the next Fibo resistance is not seen until 1.0932. The hourlies are now overbought, so looking to buy the dip seems to be the plan, with a SL placed under 1.0693 (61.8% of 1.0620/1.0811), @ 1.0685.

EURUSD: 

Buy 50 % @  1.0770; Buy 50% @ 1.0740

SL 100%  @ 1.0685

TP 100% @ 1.0920

All charts supplied my MT4

This order is only good for entry purposes until 5.00 pm NY time today

This information is a personal view only, this being a trade being undertaken by FX Charts. It is not an inducement or recommendation to trade although you may do so if you agree with the parameters of this idea.. Refer to our disclaimer here.

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