Trading plan 11/21/2017
EURUSD: Trade for a breakout range.
German Chancellor Merkel cannot form a majority in the parliament – this stopped the growth of the euro.
At the same time, there was no sharp fall: “Germany’s economy is currently very strong and is ready to grow, the political crisis will not affect the economy – the fall of the euro will be limited.
Conclusion: the euro must be traded for the movement.
Therefore, we trade for a breakthrough:
Sell with a breakout downwards from 1.1720.
Buy at the breakthrough to the top of 1.1825.
Stop-loss position is set at 45 p. Take-profit of 100 pp. (points in 4 characters, for example: from 1.1700 to 1.1800 – 100 points).
The material has been provided by InstaForex Company – www.instaforex.com