Trade Recommendation: EURUSD

The price diverges with MACD and RSI and it gives us a strong trend reversal signal. MACD confirms upward movement and RSI confirms price reversal from 1.17200 support level. DMI allows to open long trades. We can try to make some profit on a possible retracement. Entry level for buy should be above SMA50. It’s 1.17750 level. Stop orders must be placed below the support at 1.17150 level. Profit target should be at 1.18500 resistance level. The daily chart is going to confirm upward movement by RSI reversal in the oversold zone. Don’t risk more than 3% from your deposit in this trade.

Market: EURUSD
Buy: 1.17750
Stop: 1.17150
Profit Targets: 1.18450

Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.