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Hello Traders,
Let's hope for only we all had a great weekend for the new week has already promised new records. I am glad to confirm my new trade idea, as promised, to you. Apart from going long on the EUR USD, I am also considering entering into the GBP USD market. Let me show you what I have in mind. The pair is quite volatile and despite the pattern that many would recognize as bullish, I consider the downside potential of the pair instead. The 200 MA keeps the downward slope and lies currently at 1.27. I ignore the RSI 14 in this case because I see the indicator as a derivative of the price. I will therefore wait for a break below the 1.20 where I would enter into a short trade. This is it for now.
Best Wishes,
Georgi
Let's hope for only we all had a great weekend for the new week has already promised new records. I am glad to confirm my new trade idea, as promised, to you. Apart from going long on the EUR USD, I am also considering entering into the GBP USD market. Let me show you what I have in mind. The pair is quite volatile and despite the pattern that many would recognize as bullish, I consider the downside potential of the pair instead. The 200 MA keeps the downward slope and lies currently at 1.27. I ignore the RSI 14 in this case because I see the indicator as a derivative of the price. I will therefore wait for a break below the 1.20 where I would enter into a short trade. This is it for now.
Best Wishes,
Georgi
