Looking at EURUSD at the current time, we have a buy entry strategy emerging from current price action. A bullish engulfing candle accompanied with a trend line break confirms our strategy for a buy trade from current levels.
- The trade is EURUSD buy at 1.1400 area with an aim of closes near 1.14700 and 1.15000 on the daily time frame.
- Stops are set at closes below 1.13600 on a daily basis negating our entry strategy pointing to prices heading much lower.
Risks to the trade include the outcome of US midterm elections and on Thursday 08/11/2018 FOMC rate decision.
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