EURUSD extended to the top of its trading range, the 127.20% extension reached and the higher Warning Line on this Schiff met. Seemingly this pair is done painting its second corrective bull leg. Bears will try to have a go at it, bulls will take some profits and that can result in this pair reaching the 1.1600 area. Selling short 1.1750 with a 70 pip stop above 1.1820 and looking for 1R-2R targets here seem reasonable.
Trade active
In @ 1.1760, a 70 pip stop @ 1.1830 and 1R-2R targets @ 1.1690 & 1.1620Trade closed: stop reached
1R target +70 pip, partial profit taking.Trade closed: target reached
2R target +140 pips
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.