Trade Recommendation: EURUSD

The price bounced from the support zone formed by the uptrend line, SMA50 and 1.18500 support level. RSI confirmed price reversal. MACD histogram supports upward movement. We can use the previous swing high from the lower time frame for placing buy orders. If the market moves above this high, we’ll get an additional signal confirming further upward movement. Entry is 1.18900 level with stop orders at 1.18200 level. Profit targets are 1.20000 and 1.20800 resistance levels. Don’t risk more than 3% from your deposit in this trade.

Market: EURUSD
Buy: 1.18900
Stop: 1.18200
Profit Targets: 1.20000 and 1.20800

Disclaimer: The analyst does not have investments in EURUSD.

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.