EURUSD Long Trade Setup

EURUSD Daily

EURUSD is fast approaching the channel's upper trendline which it broken on 13-Sep.

Previously also price has tested it twice and have bounced for atleast 150/200 pips. 


Along with that one more horizontal support-turned-resistance is coming up around the same area.  This area roughly comes up at 1.2760/70. 

My strategy is to go long on a touch of that area for a possible move towards 1.29/30.

--------------------------------------------------------------------------------------------------------- 

EURUSD Daily

 
UPDATE ON 6-Nov-12: 3:30 GMT: Price is fast approaching my entry area. Yesterday I went long circa 1.2776 for 1/4 pf positions. Rest of the position I plan to fill at levels 1.2765/55 levels. 

 
There are 5 red daily candle continuously, so a pullback might be in today. I will be targeting a up move towards 1.29/30 against break & daily close below resistance area.