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EUR/USD Potential Downward Movement

EUR/USD Long-Term Trend: Bearish

Key Resistance Levels: 1.0642, 1.0673, 1.0750

Key Support Levels: 1.0565, 1.0504, 1.0475

4-Hour Chart:

The price on the higher time frame was trading between the range of 1.0772 and 1.0643 for some time after it had some bullish run. Recently the pair faced rejection from the upper range and broke the lower range good momentum. 

EUR/USD Medium-Term Trend: Bearish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price faced rejection from the resistance level of 1.0750 and reversed its direction. It has broken the support level of 1.0673 and retested another support of 1.0642 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 1.0610

TP 1 @ 1.0571

TP 2 @ 1.0493

Stop Loss @ 1.0649

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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