So we’ve got another profit target hit in the EURUSD to report tonight. Again, this goes totally against my expectations for the pair over the last couple of weeks, which is a little but annoying, but also nicely representative as why I use price to underpin my entries and not my fundamental bias.
The euro just doesn’t want to give up, and while I maintain my longer term view that the dollar is the currency to be in from a buy and hold point of view, these daily chart entries are stacking up and paying off.
Take a quick look at the chart below to see the run up.
For as long as I’m in a long euro position, I’ll take strength all day.
Looking at the numbers, as those that picked up on the entry in my last notification will know, I got in at market close on the daily on Monday and put in a target (as defined by my TP) of 1.108.
Price came close yesterday, and I had to withstand a bit of a pullback, but action today got back in gear and took out my target no problem.
In at 1.0975, out at 1.108, for a gain of 105 pips give or take bid ask.
Onwards and upwards.