EUR/USD Long-Term Trend: Bearish
Key Resistance Levels: 1.12675, 1.13449, 1.14000.
Key Support Levels: 1.12332, 1.12074, 1.11866.
Daily Time Frame:
The price on the higher time frame is in a clear downward movement where the price posted a correction near the strong resistance level (highlighted blue zone) around the 1.13460 USD mark. We can see as well an engulfing bearish pattern which shows that the sellers are in control of the market and this could lead to further movement to the downside.
EUR/USD Medium-Term Trend: Bearish
1-Hr Time Frame:
On the lower time frame, the price succeeded to break the bearish flag formation to the downside after founding seller just above the bespoke resistance. A higher correction could be seen to this area before a new bearish impulsive wave toward the target profits.
Sell Limit Order @ 1.12645
TP 1 @ 1.12368
TP 2 @ 1.12074
Stop Loss @ 1.12780
Trade Safely 🙂