EUR/USD - sell on 1H - good risk/reward ratio
Updated
market price reached on daily chart the 100 day moving average and first stronger resistance area at 1.113 after nice up movement this and last week. I expect first big seller wave now entering the market which could bring the market down to the drawn area/take profit.
Indicator analyse
-MACD baselines crossed bearish which brings sellers into the market
-RSI baselines has fallen back into regular movement area which is bearish indicator
-Bollinger bands stopped up movement and going into sideways which indicates an incoming correction
-take profit at 38.2 fibonacci area which is first reversal target for strong trends like this one
Indicator analyse
-MACD baselines crossed bearish which brings sellers into the market
-RSI baselines has fallen back into regular movement area which is bearish indicator
-Bollinger bands stopped up movement and going into sideways which indicates an incoming correction
-take profit at 38.2 fibonacci area which is first reversal target for strong trends like this one
Trade closed: stop reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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