EUR/USD left a trap for buyers

Good evening, dear traders! I present the trading idea for the EUR/USD pair.

Today, December 4, at 14:00 Universal time, data on employment in the non-productive sphere of the United States were released and at the same time, statements by the Bank of Canada were passed, which significantly strengthened the Canadian dollar. Against this background, the dollar strengthened locally, including relative to the euro.

On the daily time frame, the EUR/USD pair closes with a “double bottom” at a quote of 1.10650. It is behind this minimum that buyers have been hiding for the last two days:

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How to earn profit and/or not to lose? Very simple.

1. If you are in short positions – I recommend taking profit at a quote of 1.10650.

2. If you are not in position – develop the target of 1.10650.

3. If you are in the “longs” – I do not recommend putting a stop below the level of 1.10650 – it will be removed by a true or false breakdown.

Good luck in trading and see you tomorrow at the morning review!

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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