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 🙂