EUR/USD purchases for this week
Today, the pair is trading above last week’s close. This indicates the interest of major players in the euro’s growth. Any decline should be considered as an opportunity to buy the pair. The most favorable prices for opening a long position are in the range of WCZ 1/4 1.1839-1.1834.
It is important to understand that working towards the strengthening of the EUR/USD pair allows you to get a favorable risk-to-profit ratio due to the fact that the goal is the weekly control zone 1.1874-1.1954. The range of growth will be 114 points from the current levels. On the H1 timeframe, the engulfing pattern will allow you to set a stop loss of no more than 25 points. Even at current levels, this already allows you to get a risk / profit of 1 to 5 in your favor.
Since there is no reason to form an alternative reversal model, the only thing that should be considered is reducing the instrument to find favorable purchase prices.
The material has been provided by InstaForex Company – www.instaforex.com