08.01.202009:32 Forex Analysis & Reviews: Trading idea for EUR/USD

Long-term review

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

Let me remind you that the trading idea from January 6, 2020 was not fully implemented, instead, it gave the opportunity to translate into "breakeven", and traces of which can be seen on the chart below.

Yesterday, the US dollar strengthened again against euro. D1 shows the model called "absorption", which at least suspends the long scenario for the pair.

At the same time, there are prospects of a decline opening in the footsteps of buyers with the first goal - the lows of January 3 (the beginning of the year) at the quote of 1.11250:

As you can see, the night missile attack on American military bases made by Iran did not affect the course of the pair. It gave, however, the opportunity to work out yesterday's absorption with a pullback of 1.1170, which is the standard 50% pullback from the pulses for entering the third wave.

Let me remind you that the preliminary report on the non-agricultural sector will be released today at 14:15 London time. Perhaps, breakdown will occur at this time.

Have successful trades and don't forget to control the risks!

You can watch a more detailed review in video format on the Instaforex YouTube channel after lunch.

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