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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 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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