EUR / USD 1H.
Morning of April 27, we gave a forecast about further upward movement on the EUR/USD pair if traders manage to overcome the upper line of the downward channel, and about the beginning of the downward movement if there is a rebound from the upper line of the downward channel. In practice, quotes consolidated above the channel, so you should buy Euro currency with the goal of the Senkou Span B. line. At the moment, the picture is as follows:
Thus, the approximate entry point with EUR / USD purchases was located at the close of the hour bar, which witnessed the channel being closed at the price level of 1.0839. We set the target at the Senkou Span B line, which runs at the level of 1.0900. At the moment, quotes are at the level of 1.0882, thus, if you close the deal right now, you will receive a profit of 43 points. This is a sufficient level of profit from trading on the pair. If traders wish, they can wait until they reach 1.0900. Today, no important macroeconomic events are planned in either the United States or the European Union, so the fundamental background should not affect the movement of the pair. We do not expect a sharp price reversal. However, in this case, we recommend transferring the Stop Loss order to breakeven or to a minimum profit.
