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EUR/USD Potential Downward Movement

EUR/USD Long-Term Trend: Bearish

Key Resistance Levels: 1.07455, 1.08150, 1.08523

Key Support Levels: 1.07012, 1.06751, 1.06595

Daily Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at the 1.08891 level and reversed the direction. The pair has continued to break a few support levels and EMA which suggests further trend continuation. 

EUR/USD Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a key level of 1.08150 and has sustained below that. As of now the pair has broken and retested a minor level of 1.07455 before continuing the momentum.

Signal Idea:

Sell Limit Order @ 1.07290

TP @ 1.07042

Stop Loss @ 1.07549

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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