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EUR/USD Potential Downward Movement

EUR/USD Long-Term Trend: Bearish

Key Resistance Levels: 1.0751, 1.0781, 1.0849

Key Support Levels: 1.0645, 1.0593, 1.0522

Daily Chart:

The price on the higher time frame has been trading in a downtrend with occasional pullbacks for a few months and recently it broke a support level of 1.0920. The price has done a retest of that level and continues the trend after facing rejection from there.

EUR/USD Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price broke a support level of 1.0771 and continued the move downwards. The pair did a retest of a resistance level at 1.0739 and continued the bearish momentum after facing rejection. 

Signal Idea:

Sell Limit Order @ 1.0696 

TP 1 @ 1.0646

TP 2 @ 1.0596

Stop Loss @ 1.0746

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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