EURUSD is Bullish, But Risk-Reward Ratio Challenges Bulls
On August 14, we noted that a push above 1.0959 would trigger an ascending triangle pattern with a target of 1.1254, with a potential stop at the December high of 1.1140. The market is now moving towards that level. However, in the short term, the risk-to-reward ratio for buying EUR/USD is not particularly favorable.
That said, the risk-to-reward ratio improves for long positions between 1.1022 and 1.1061. If the market reaches these levels, bulls are likely to be interested in buying the dip, targeting 1.1100, followed by 1.1150.
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That said, the risk-to-reward ratio improves for long positions between 1.1022 and 1.1061. If the market reaches these levels, bulls are likely to be interested in buying the dip, targeting 1.1100, followed by 1.1150.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information
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