EURUSD Channel Down hitting its top. Sell opportunity.
The EURUSD pair rebounded on Friday on its 4H MA50 (blue trend-line) and today the price is testing the top (Lower Highs trend-line) of the 3-week Channel Down pattern. This presents an strong sell opportunity on an excellent Risk/Reward ratio and the upside is limited to the top but the downside having much room to drop to the bottom of the Channel.
The previous Bearish Legs declined by -1.41% and -1.56% respectively. As long as the price is closing below the top of the Channel Down, our target will be the 1D MA50 (red trend-line) at 1.09900 (-1.26% from the top, negative progression relative to the previous Bearish Legs).
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The previous Bearish Legs declined by -1.41% and -1.56% respectively. As long as the price is closing below the top of the Channel Down, our target will be the 1D MA50 (red trend-line) at 1.09900 (-1.26% from the top, negative progression relative to the previous Bearish Legs).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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