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EUR/USD Potential Downward Movement

EUR/USD Long-Term Trend: Bearish

Key Resistance Levels: 1.0937, 1.1011, 1.1116

Key Support Levels: 1.0810, 1.0736, 1.0646

Daily Time-frame:

The price on the higher time frame has been in a downtrend for months with occasional pullbacks. Recently the price attempted to break the trend but faced resistance around the 1.1138 level. The trendline also indicates a bearish trend continuation.

EUR/USD Medium-Term Trend: Bearish

1-Hour Time-frame:

On the lower time frame, the price is moving in the major trend direction. The pair have recently done a retest of the 1.0935 level after breaking the downside and continued the move. We expect the momentum to pick up once the price breaks the 1.0875 level.

Signal Idea:

Sell Stop Order @ 1.0876

TP 1 @ 1.0814

TP 2 @ 1.0752

Stop Loss @ 1.0938

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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