Hello everybody!
After holding bullish momentum for a long time (7 months), EURUSD is starting to show signs of reversal:
1. It has been rejected from a strong resistance area.
2. It broke a support area, which is now expected to act as resistance.
3. It broke a solid upward trendline with a strong downward move.
If this area holds and price doesn't go above 1.18000, we can look to sell from here.
In that case, the most likely target will be around 1.12000.
Manage your risk and trade safe!
After holding bullish momentum for a long time (7 months), EURUSD is starting to show signs of reversal:
1. It has been rejected from a strong resistance area.
2. It broke a support area, which is now expected to act as resistance.
3. It broke a solid upward trendline with a strong downward move.
If this area holds and price doesn't go above 1.18000, we can look to sell from here.
In that case, the most likely target will be around 1.12000.
Manage your risk and trade safe!
Trade active
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.