The recent US elections have indeed triggered a significant decline in EUR/USD. The pair has broken through key support levels, indicating a strong bearish trend.
As observed in the chart, the weekly support level has been breached, further empowering sellers to capitalize on the downward momentum. The market's current trajectory suggests that parity (1.0000) is a realistic target for bearish traders.
However, it's important to remember that market conditions can change rapidly. While a bearish outlook prevails, it's crucial to monitor fundamental and technical factors closely.
Risk Management:
Entry: An entry in the zone of 1.057 - 1.060 is reasonable
Stop-Loss Orders: Implement a well-defined stop-loss order to mitigate potential losses. i will suggest 1.08. about 200 pips from entry point
Risk-Reward Ratio: Aim for favorable risk-reward ratios to optimize trading outcomes. parity is the goal. 600 pips from entry point
As observed in the chart, the weekly support level has been breached, further empowering sellers to capitalize on the downward momentum. The market's current trajectory suggests that parity (1.0000) is a realistic target for bearish traders.
However, it's important to remember that market conditions can change rapidly. While a bearish outlook prevails, it's crucial to monitor fundamental and technical factors closely.
Risk Management:
Entry: An entry in the zone of 1.057 - 1.060 is reasonable
Stop-Loss Orders: Implement a well-defined stop-loss order to mitigate potential losses. i will suggest 1.08. about 200 pips from entry point
Risk-Reward Ratio: Aim for favorable risk-reward ratios to optimize trading outcomes. parity is the goal. 600 pips from entry point
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.
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.