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15.10.202112:10 Forex Analysis & Reviews: Trading idea for EUR/USD

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 15.10.2021 analysis

EUR / USD is currently trading between the 50% and 61.8% retracement levels.

Exchange Rates 15.10.2021 analysis

The H1 chart shows that there is a strong pressure at 1.16500.

Exchange Rates 15.10.2021 analysis

As such, traders should close 2/3 of the positions upon reaching 1.16500 and leave 1/3 until the price hits 1.19.

Exchange Rates 15.10.2021 analysis

Be careful on going short amid a weak dollar!

This analysis is based on Price Action and Stop Hunting strategies.

Good luck and have a nice day!

Andrey Shevchenko
Analytical expert of InstaForex
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