Friday, October 31, 2014

EURUSD Price Action Setup - 31st October, 2014

EURUSD Price Action Setup - 31st October, 2014


Daily Chart


Hourly Chart


  • Support level supported by a Daily candle close at support
    • 4hr candle also showing the same
  • Supporting analysis on a failing rally on the US Dollar Index / USDCHF is the factor supporting this counter trend trade here.

Outlook Trade opportunity

We are looking at around a 1.5 :1 reward to risk here, with buy limit at around the 50-61.8% fib retrace of the bounce from support.

 You can also wait for a 1hr Price action candle setup and enter with more conviction

Risk Level Medium - Note we are doing counter trend trade here


Tips -

Always take note of any economical news event on our provided calender below



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1 comment:

  1. Forex FunctionNovember 6, 2014 at 2:03 AM

    Nice price action set up. This is text book typee trading. you have logic on your trading. i like this system. keep going. best of luck

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