EUR/USD Potential Short position
Updated
Based on the technical and fundamental analysis conducted, it appears that the EUR/USD currency pair is exhibiting certain trends and patterns that could potentially be exploited for profit.
From a technical standpoint, the price has been seen to reject the daily pivot point at 1.103 and is currently trading below a resistance area of 1.107. In addition, the daily pivot point and weekly pivot point are in close proximity, indicating a potentially significant price level. The EMA is also observed to be currently above the price, suggesting a bearish trend.
Looking at the fundamental analysis, these factors may have an impact on the market and potentially influence the trade.
Taking into account the above information, a possible trading strategy is to short the EUR/USD currency pair with an entry point at 1.10200, a stop loss at 1.10400, and a take profit at 1.09450. Nonetheless, it is vital to consider potential risks that may impact the trade, such as market volatility, unexpected news events, or any other relevant factors.
In summary, based on the technical and fundamental analysis, a short position on the EUR/USD currency pair at the proposed entry point, stop loss and take profit levels may be a potentially profitable trading opportunity. However, traders should exercise caution and take into account all risk factors before entering a trade.
From a technical standpoint, the price has been seen to reject the daily pivot point at 1.103 and is currently trading below a resistance area of 1.107. In addition, the daily pivot point and weekly pivot point are in close proximity, indicating a potentially significant price level. The EMA is also observed to be currently above the price, suggesting a bearish trend.
Looking at the fundamental analysis, these factors may have an impact on the market and potentially influence the trade.
Taking into account the above information, a possible trading strategy is to short the EUR/USD currency pair with an entry point at 1.10200, a stop loss at 1.10400, and a take profit at 1.09450. Nonetheless, it is vital to consider potential risks that may impact the trade, such as market volatility, unexpected news events, or any other relevant factors.
In summary, based on the technical and fundamental analysis, a short position on the EUR/USD currency pair at the proposed entry point, stop loss and take profit levels may be a potentially profitable trading opportunity. However, traders should exercise caution and take into account all risk factors before entering a trade.
Trade closed manually
RR 1.5
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