Euro / U.S. DollarShort
Intraday EURUSD Forex analysis by @reembegil
Keeping the downtrend at the EURUSD, the quote rebounds in the demand zone at 1.17264 making a retracement to the 0.236 fibonacci level wich match with the first supply zone waiting for the MACD to confirm the shortselling entry.
1)Supply Zone 1:
Entry Price: 1.17457
Stop Loss: 1.17593
Target: 1.17129
Risk & Reward Ratio: 2.41
Fibonacci Retracement: .236
2)Supply Zone 2:
Entry Price: 1.17654
Stop Loss: 1.1779
Target: 1.17129
Risk & Reward Ratio: 3.83
Fibonacci Retracement: .382
3)Supply Zone 3:
Entry Price: 1.17917
Stop Loss: 1.18103
Target: 1.17129
Risk & Reward Ratio: 4.24
Fibonacci Retracement: .618
1)Supply Zone 1:
Entry Price: 1.17457
Stop Loss: 1.17593
Target: 1.17129
Risk & Reward Ratio: 2.41
Fibonacci Retracement: .236
2)Supply Zone 2:
Entry Price: 1.17654
Stop Loss: 1.1779
Target: 1.17129
Risk & Reward Ratio: 3.83
Fibonacci Retracement: .382
3)Supply Zone 3:
Entry Price: 1.17917
Stop Loss: 1.18103
Target: 1.17129
Risk & Reward Ratio: 4.24
Fibonacci Retracement: .618
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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.