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Buy EUR/USD at 1.2820

Forex Trades 235 Views

Buy EUR/USD at 1.2820. Take profit @ 1.2950 & 1.3030.

Conviction:The pair reached and bounced off the support level 1.2850, and is consolidating now to form a Neckline of a clear Head and Shoulders Pattern. A Double Bottoms Pattern should be expected in order to complete the Head and Shoulders Pattern, which suggest another visit to the support level 1.2810, where pending orders can be placed as a Limit Buy Order. Both oscillators, the RSI and CCI on the daily charts are in the negative zone. The Moving Average is acting as a support level on the 4 hours chart, which confirms the signal from a technical point of view.

 

 

About Razi Hammouda

Razi’s professional experience was gained over the course of more than a decade working with leading Forex market makers in the Middle East, Asia and Europe where he learned about trading, financial instruments and global markets. Being exposed to the wide range of skills he acquired along the years, he continued to develop his trading strategies and further improving his track record in Forex trading. He used innovative business development strategies to find FXLORDS, helping it to rapidly become a major provider of education and trading tools to the successful trader. He is an enthusiastic individual, motivated by challenge and renowned for pushing the limits, always looking to gain some more experience and help as much as possible along the way.

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