EURUSD Trade Setup

by: Colibri Trader

Dear followers,

It has been a quiet week so far. The trading setup from last time is showing bullish signs and I have taken a small profit on it. Today’s candle is is bullish engulfing one and it is highly likely that we will see a continuation of the uptrend.

I am not going long here, because I don’t feel convinced enough. Not all stars are aligned for me. That is why I will pass on this pair.

EURUSD Trade Setup

Today’s setup is coming from the EURUSD. Although, the situation looks similar, I feel more convinced that we might see an uptrend continuation tomorrow.

There is a 4-candle bullish engulfing pattern on the daily chart. It occurred just above a minor support level.

I am looking to possibly enter in a long trade at around 1.1975. My first potential target could be the level of 1.2100. Then, if price action confirms my view, 1.2500.

Happy Trading,

Colibri Trader


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