Euro / U.S. DollarShort
EUR/USD Bearish Breakout: Short Setup on the Horizon - 4H Chart
We’re looking at a potential short setup. The price is consolidating just below the daily resistance at 1.07248. If the price fails to break above the 21 EMA and shows bearish momentum, this could be a good entry point for a sell trade.
❌ Stop Loss: To manage risk, place a stop loss just above the daily resistance level at around 1.07535, ensuring we're out if the price breaks above the 21 EMA and the resistance level.
🎯 Target 1: The first profit target can be set near the daily support level at 1.06485, offering a reasonable risk-reward from our entry point.
🎯 Target 2: If the momentum remains strong, consider extending the take profit to the lower weekly support at 1.06048, following the trend's strength and overall market sentiment.
❌ Stop Loss: To manage risk, place a stop loss just above the daily resistance level at around 1.07535, ensuring we're out if the price breaks above the 21 EMA and the resistance level.
🎯 Target 1: The first profit target can be set near the daily support level at 1.06485, offering a reasonable risk-reward from our entry point.
🎯 Target 2: If the momentum remains strong, consider extending the take profit to the lower weekly support at 1.06048, following the trend's strength and overall market sentiment.
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.