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Continuing to Buy EURUSD Dips

Continuing to Buy EURUSD Dips

David Rodriguez, Head of Product

I like buying EURUSD dips as SSI shows traders remain aggressively short, and the trend remains in favor of further gains.

I got stopped out yesterday as price broke the morning low and yet came right back. It's obviously frustrating, but you can only speculate on probabilities and stick to your convictions.

I've done the same today, and hopefully a continuation higher leaves me at a profit. I went long at market (1.3280 at the time), with a stop below the morning's low of 1.3233. Keeping a minimum 1:1 risk/reward here with initial targets of 1.3320.

-- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive David's reports via e-mail, send an e-mail message to drodriguez@dailyfx.com with subject line "Distribution list".

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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