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 🙂