EUR/USD staged a recovery from 1.16 level over the last 2 weeks
and reach 1.1830 but the recovery appears to be running out of steam.
Currently, I see a bearish flag (almost) on the daily chart. A strong break
below the lower TL of the bearish flag would indicate that the recovery
has ended.
Selling the rallies remains the most preferred approach to trade EUR/USD.
I have already sold at 1.1830 and would be looking to add more between
1.1790-1.1830 with SL above 1.1885 and TP1 at 1.1650, TP2 at 1.1520
and reach 1.1830 but the recovery appears to be running out of steam.
Currently, I see a bearish flag (almost) on the daily chart. A strong break
below the lower TL of the bearish flag would indicate that the recovery
has ended.
Selling the rallies remains the most preferred approach to trade EUR/USD.
I have already sold at 1.1830 and would be looking to add more between
1.1790-1.1830 with SL above 1.1885 and TP1 at 1.1650, TP2 at 1.1520
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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.