EUR/USD: Watching for a Swing Long from Key Support
EUR/USDLongSwing3h ago4 views
Trade Setup
Entry Price
1.0809
Stop Loss
1.0723
Take Profit
1.0937
Risk : Reward
1 : 1.49
RiskReward
Market Snapshot & Technicals
EUR/USD is currently at 1.08262, seeing a -0.22% dip today. The overall trend remains sideways, with strong intraday support holding near 1.0791, close to the day's low of 1.07906. This level, combined with the psychological 1.08 mark, suggests potential for a bounce. Resistance sits at 1.0862 and then 1.09.
The Play
I'm looking for a swing long trade. The setup is clean around current levels, anticipating a rejection from the 1.0791/1.08 support zone. We've seen some recent USD strength, but I believe we could see a short-term reversal or profit-taking, offering a window for EUR/USD to recover.
Taking this trade:
* Entry: 1.0809
* Stop Loss: 1.0723 (below 1.075 support)
* Take Profit: 1.0937 (targeting 1.09 resistance and beyond)
Levels are clear, but always manage your risk. This is a swing play, so patience is key.
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