EUR/USD: Potential Short Trading Opportunity
EUR/USD Daily
EUR/USD tested the 200-Day Moving Average at 1.0802 on Wednesday. Our team expect the pair to remain under pressure, because:
- The SuperTrend Indicator shows strong downtrend
- The price is below the psychological zone 1.0900 and the resistance level 1.0930
SUGGESTED TRADE: SELL EUR/USD
- If the price close under the 200-Day Moving Average and under the psychological zone 1.0800 - SELL EUR/USD
ENTRY - around 1.0780 after daily candle close under the 200-Day Moving Average and 1.0800
SL - 1.0940
TP1 - 1.0645
TP2 - 1.0533
Client Sentiment:
Retail trader data shows 61% of traders are net-long. We typically take a contrarian view to crowd client sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall. Traders are further net-long than the last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bearish contrarian trading bias.
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EUR/USD tested the 200-Day Moving Average at 1.0802 on Wednesday. Our team expect the pair to remain under pressure, because:
- The SuperTrend Indicator shows strong downtrend
- The price is below the psychological zone 1.0900 and the resistance level 1.0930
SUGGESTED TRADE: SELL EUR/USD
- If the price close under the 200-Day Moving Average and under the psychological zone 1.0800 - SELL EUR/USD
ENTRY - around 1.0780 after daily candle close under the 200-Day Moving Average and 1.0800
SL - 1.0940
TP1 - 1.0645
TP2 - 1.0533
Client Sentiment:
Retail trader data shows 61% of traders are net-long. We typically take a contrarian view to crowd client sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall. Traders are further net-long than the last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bearish contrarian trading bias.
Please, Support Our Work with Like & Comment! Thank You!
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