Strategy in EURUSD 7Feb2017-SHORT

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USDINR opened lower

As indicated in the daily chart there we could see breakout in the circle ,means it had broken trend .

Why we seen this breakout 

after breaking up if we see fundamentally -the stronger Dollar due to recent growth in job forecast up to 22.3 K jobs .prior to that news it was trending in the channel .

at the time of writing it’s trading 1.0670 we are looking at the range of 1.0700 upper side and lower side 1.0640 break out from any side direction pair will move for retrace

I also pointed Downward channel will keep updating .till you keep it sharing

Idea I have mentioned .Downward Channel i have shown .

What I think

I think we need to watch the pair ,at the time of writing I could observe that no buyers are their to break upside so downside will prevails targeting 1.05932 In euro according to present scenario so one could take short on retrace at 1.0700 short level with 15 pips stop loss

Risk 15 pips and Reward 80 pips 

Disclaimer:  The content in this article comprises personal opinions and ideas and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance.Risk Warning: There is a high level of risk involved with trading leveraged products such as forex and CFDs. You should not risk more than you can afford to lose, it is possible that you may lose more than your initial investment. You should not trade unless you fully understand the true extent of your exposure to the risk of loss. When trading, you must always take into consideration your level of experience. If the risks involved seem unclear to you, please seek independent financial advice.


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