EUR/USD Potential Downward Movement

EUR/USD Long-Term Trend: Bearish

Key Resistance Levels: 1.1072, 1.1138, 1.1233

Key Support Levels: 1.0918, 1.0892, 1.0814

Daily Time-frame:

The price on the higher time frame had been in a downtrend for weeks and recently it retraced to the resistance level of 1.1138. We saw rejection from that level and the price is now continuing its move downwards.

EUR/USD Medium-Term Trend: Bearish

1-Hour Time-frame:

On the lower time frame, the price was in a downtrend and the pair had tanked a lot. There was retracement in the price and it faced resistance at the level of 1.1088 and 1.1014 The price had a rejection from both these levels. We expect a trend continuation in this pair.  

Signal Idea:

Sell Stop Order @ 1.0973

TP 1 @ 1.0919

TP 2 @ 1.0863

Stop Loss @ 1.1027

Trade Safely 🙂