Trade Recommendation: EURUSD

The price bounced from 1.17000 support level. Double bullish divergence gives a trend reversal signal. RSI confirmed price reversal from the support level. MACD supports upward movement. DMI allows opening long trades. Also the daily chart confirms upward movement. We have buy opportunity. Buy orders should be placed at 1.17570 level and stop orders below the local swing low at 1.16670 level. The main profit target is 1.18500 and 1.20000 level as the 2nd target if the price can break the downtrend line. Don’t risk more than 3% from your deposit in this trade.

Market: EURUSD
Buy: 1.17570
Stop: 1.16670
Profit Targets: 1.18500 and 1.20000

 

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.