EURUSD : Preferred sales strategy.
Updated
Analysis:
Pattern Breakdown: The price has broken below the rising trendline, confirming a bearish sentiment.
Resistance Zone: There's a highlighted zone around 1.0950 – 1.1000, where a previous support level is now acting as resistance.
Support Target: The chart suggests a potential move down towards the key support area around 1.0790.
Trading Strategy:
Sell Opportunity: If EUR/USD retests the resistance zone (1.0950 – 1.1000) and fails to break above, this presents a selling opportunity.
Target: The initial target would be the 1.0790 level, which is a key support area and the next significant downside target.
Stop Loss: Place a stop-loss above the 1.1000 level to manage risk in case of a reversal.
Pattern Breakdown: The price has broken below the rising trendline, confirming a bearish sentiment.
Resistance Zone: There's a highlighted zone around 1.0950 – 1.1000, where a previous support level is now acting as resistance.
Support Target: The chart suggests a potential move down towards the key support area around 1.0790.
Trading Strategy:
Sell Opportunity: If EUR/USD retests the resistance zone (1.0950 – 1.1000) and fails to break above, this presents a selling opportunity.
Target: The initial target would be the 1.0790 level, which is a key support area and the next significant downside target.
Stop Loss: Place a stop-loss above the 1.1000 level to manage risk in case of a reversal.
Trade closed: target reached
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