Potential Downside For EURUSD
EURUSD This pair looks promising when we first saw the MACD signal line forms a golden cross. But when we look at the daily trend, we have to say that this pair might still in downtrend.
Here's our strategy:
- To confirm the reversal, price must go beyond 1.05600, which will create a reversal pattern.
- If fails, then we recommend to short with 1.05055 and 1.04376.
- Being a resistance, if you short this pair immediately, 1.05600 will be the SL level.
Let's say that this pair will have to reverse and start moving up, then buy with 1.06342 as TP.
Conclusion: looks promising, just need to wait for confirmation.
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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.