EURUSD, 1-hour timeframe chart

EURUSD retested the support level of 1.11630

👉Level explanation

EURUSD has been under selling pressure within the last couple of hours.

👉Possible scenario

The best way to use this opportunity is to place a Buy order at 1.11650.

Set your stop loss at 1.11450 below the previous low ($2.00 loss for 0.01 lot) and take profit at 1.11950 ($3.00 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.5.

👉Fundamental factors

The U.S. Durable Goods Orders report will be released in a few minutes and could affect this trade.