Euro / U.S. DollarShort
EURUSD Overbought Reversal
Structure: Upward
Moving Average: Uptrend
Trendline: Uptrend Line is far away
Pattern: Round Top at 1H Timeframe, Multiple Rejection at 1.1480
Trigger: Candlesticks show weakness of bull power (2 Shooting Stars with long upside wick, Second High formed at 1.1480)
Resistance: 1.1480 - 1.15
Support: 1.1180 - 1.12
EUR/USD raised 11 out of last 12 trading days. Finally, bulls seems stalled at 1.15 area.
Everything went up, must go down. After a long run to 1.15, which is an important resistance, EUR has a great chance to retrace and even reverse.
Wait for a small rebound in 1H TF, with rejection around 1.14.
Entry: 1.14 - 1.1430
SL: 1.1510
TP: 1.12
Moving Average: Uptrend
Trendline: Uptrend Line is far away
Pattern: Round Top at 1H Timeframe, Multiple Rejection at 1.1480
Trigger: Candlesticks show weakness of bull power (2 Shooting Stars with long upside wick, Second High formed at 1.1480)
Resistance: 1.1480 - 1.15
Support: 1.1180 - 1.12
EUR/USD raised 11 out of last 12 trading days. Finally, bulls seems stalled at 1.15 area.
Everything went up, must go down. After a long run to 1.15, which is an important resistance, EUR has a great chance to retrace and even reverse.
Wait for a small rebound in 1H TF, with rejection around 1.14.
Entry: 1.14 - 1.1430
SL: 1.1510
TP: 1.12
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