EURUSD, Daily - Analysis, potential 'Sell' order
Updated
EURUSD, Daily - mid to long term 'Sell' idea:
EMA 34 is crossing EMA 55 alongside MACD indicates a bearish momentum and bearish pressure is also present on the weekly chart. The daily MACD can possibly be a sign not preferably to enter the trade as the bearish pressure has been going on for a few days - it's up to your individual trade conditions and analysis.
Head and shoulder pattern is forming and we await for the neckline to be crossed confirming a breakout, ideally a couple of candles formation. It is possible for the price to bounce back, therefore adjust the stop loss according to your risk management.
Zones 01 and 02 are the support lines on the daily chart, price is expected to resist in those zones before going further down.
Note: Please do your analysis thoroughly and take into consideration your RRR.
EMA 34 is crossing EMA 55 alongside MACD indicates a bearish momentum and bearish pressure is also present on the weekly chart. The daily MACD can possibly be a sign not preferably to enter the trade as the bearish pressure has been going on for a few days - it's up to your individual trade conditions and analysis.
Head and shoulder pattern is forming and we await for the neckline to be crossed confirming a breakout, ideally a couple of candles formation. It is possible for the price to bounce back, therefore adjust the stop loss according to your risk management.
Zones 01 and 02 are the support lines on the daily chart, price is expected to resist in those zones before going further down.
Note: Please do your analysis thoroughly and take into consideration your RRR.
Note
Trading idea was invalidated.Although the price crossed the neckline but did not confirm - the price went up initially then down, voided the entry/pattern.
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