FX.co ★ Ambar Hassan | EUR/USD

Yesterday, on Friday, I found myself feeling quite uncertain about the EUR/USD pair, and I spent a considerable amount of time analyzing the charts to find a clear direction. I had meticulously planned to initiate a buy order from the 1.1740 level, as I believed this benchmark offered a strong support zone with a favorable risk-to-reward ratio. However, I watched the market throughout the day, and to my disappointment, this specific level was not tested by the price action. Consequently, I adhered to my trading discipline and refrained from entering any purchases, as I am always cautious about forcing a trade when my predefined conditions are not met

Regarding my sales, I executed my first sell order from the 1.1773 level, which I initially perceived as a point of resistance. After I opened this sell position, I expected the pair to commence a normal decline, but the market dynamics proved to be quite different from my initial assessment. Instead of moving downward, the pair unexpectedly rallied toward the 1.18 pattern, where it eventually formed a local maximum at 1.1806. I realized that my sell after the test of the 1.18 pattern turned out to be profitable, and I felt a sense of relief that this second trade compensated for the first one. Upon the pair's return to 1.1773, I made a strategic decision to close the upper trade, securing a small profit, and I chose to hold the lower one, hoping for a further decline. I was particularly focused on the 1.1750 level, and I decided to wait patiently for its test, believing it would validate my broader market outlook Nevertheless, as the trading session progressed, I noticed that EUR/USD flattened considerably during the final hours, and it eventually closed the week at 1.1779, leaving me in a state of limbo with my remaining position. At this moment, I must admit that I lack any real certainty about the next move, and I am carefully monitoring the moving average, which sits approximately at 1.1768. I am concerned that this moving average may turn out to be a significant barrier on the way down, preventing the pair from reaching my target. Given this uncertainty, I do not rule out the possibility that I will close the deal there, exiting the trade with practically no profit, which is a frustrating but necessary aspect of trading. I constantly remind myself that preserving capital and avoiding unnecessary risk is sometimes more important than chasing a profit, even when it means accepting a breakeven outcome after a week of careful observation. I am now taking the weekend to reflect on these developments, and I hope to gain more clarity before the markets reopen on Monday, as I want to ensure that my future decisions are based on logic and analysis rather than emotional reactions to unpredictable market movements.