Sell EURUSD Triangle Breakout
Updated
The EUR/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a triangle pattern.
Sell Entry: Consider entering a short position around the current price of 1.0842, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the following levels: 1.0815 and 1.0795.
These targets act as potential support zones that could see selling pressure.
Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the triangle, ideally around 1.0870. This helps limit potential losses if the price reverses and breaks back upwards.
Thank you.
Sell Entry: Consider entering a short position around the current price of 1.0842, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the following levels: 1.0815 and 1.0795.
These targets act as potential support zones that could see selling pressure.
Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the triangle, ideally around 1.0870. This helps limit potential losses if the price reverses and breaks back upwards.
Thank you.
Trade active
Hawkish Fed expectations: The market anticipates the Federal Reserve might continue raising interest rates in the coming months, further supporting the USD.Weak Eurozone Data: Recent data releases from the Eurozone have been underwhelming, pointing towards potential economic slowdown. This could weaken the Euro (EUR).
Note
Trade closed: target reached
Note
Note
The dollar jumped against the euro and yen on Wednesday as investors positioned for U.S. and European inflation data due on Thursday, with month-end portfolio rebalancing also likely to sway market direction.
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