EUR/USD Potential Downward Movement

EUR/USD Long-Term Trend: Bearish

Key Resistance Levels: 1.1141, 1.1226, 1.1350

Key Support Levels: 1.0970, 1.0839, 1.0657

Daily Time-frame:

The price on the higher time frame has been in a downtrend for months and has been moving in bearish formations. Price recently broke the zone to the downside and then there was a sudden pullback to the upside. As of now, we are seeing that price has broken the previous low after rejecting the upside.

EUR/USD Medium-Term Trend: Bearish

1-Hour Time-frame:

On the lower time frame, the price has been moving in the major trend’s direction with occasional pullbacks. Recently it had formed a zone between 1.1141 and 1.1226, now we see that the pair has broken the zone to the downside and continued the move after the retest.

Signal Idea:

Sell Stop Order @ 1.1097

TP 1 @ 1.1046

TP 2 @ 1.0994

Stop Loss @ 1.1147

Trade Safely 🙂