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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 🙂

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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