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EUR/USD Hits Target! (Profit level adjusted)

EUR/USD Hits Target! (Profit level adjusted)

Our trade setup on EUR/USD from Monday’s analysis (8th April) came quite close to our target in the early hours of today’s European session as we adjusted to take profit at current price level (we are roughly out 9-15 pips away from our initial target of 1.13200). We are of the view that a shorter term resistance level have been priced in at this level as Mario Draghi’s recent comment somewhat rattled our short-term dynamics and due to our risk mitigation strategy we advise that our clients take their profit at the current price level which is roughly around +50-53 pips in profit from our entry point as at the time of publishing.

EUR/USD 15-Minute Chart Showing Price Closed Out in +52.5 pips in Profit

 

In monetary terms, for instance, clients that traded with:

N100 (trading amount) * 52.5 points = N5,250 N1000 * 52.5 points = N52,500 N2000 * 52.5 points = N105,000 N10,000 * 52.5 points = N525,000

N.B: Depending on the trading amount returns could be lower or higher than the above examples.

At EGM, will would always strive to ensure that our clients are profitable!

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