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Trade Setup: EURUSD Closing The Gap

Interval: H1

EURUSD has opened with a big negative gap because of the new problems that appeared in Europe. Cyprus will get a 13 billion dollar bailout, only if it will tax bank deposits with 9.9% on accounts that are equal or bigger than 100k, and 6.75% for those that are under this sum. This measure has to be approved by the parliament today, if so, then the Euro might get back to last week’s closing price. Keep in mind that for this setup we will use a 50 pips trailing stop.

Confirmation level: 1.2930

Stop Loss: 1.2885

Take Profit: 1.3045

Trailing Stop: 50 pips

Trade Setup: EURUSD Closing The Gap by