EURUSD Quick Update and New Trade

Federal Reserve holds rates flat. Now it is about the November/December meeting. US Dollar weakens slightly. Gold and Indices move in tandem.

by: Colibri Trader

The trade from last time did perform as expected. Although the stop-loss level was almost reached, our stop-loss orders are still intact at 1.1120. Now, it is time to re-visit again this trade.

EURUSD Quick Update and New Trade- Today’s trade is more or less a repetition of last time’s trade. I am seeing even more bullishness at EURUSD. The daily candle is a bullish engulfing and it formed just above the major support level that I’ve discussed last time. Now, it is time to maybe add some more to the existing long EURUSD position. I will be looking to scale in at around 1.1175. My stop loss on this second trade would be just under 1.1140. My first target is the level of 1.1300. My secondary price target is the level of 1.1600.

Happy Trading,

Colibri Trader