EUR/USD Bearish Setup Targets 1.03000
To capitalize on the bearish trend in EUR/USD, consider the following sell setup:
Entry Point: Look for a retest of the resistance zone around 1.07090. This level has consistently rejected price advances, offering a strong entry for short positions.
Stop Loss: Place your stop loss slightly above the resistance zone, around 1.07300, to limit potential losses in case of an unexpected breakout.
Take Profit: Target the 1.03000 level, where the next significant support lies, for a favorable risk-to-reward ratio.
Confirmation: Wait for bearish price action signals at the resistance zone, such as rejection wicks, bearish engulfing patterns, or a break below short-term support, to confirm the entry.
This setup aligns with the current downtrend, maximizing the likelihood of profit while managing risk effectively. Always monitor for changes in trend strength or macroeconomic factors that could shift the market outlook.
Entry Point: Look for a retest of the resistance zone around 1.07090. This level has consistently rejected price advances, offering a strong entry for short positions.
Stop Loss: Place your stop loss slightly above the resistance zone, around 1.07300, to limit potential losses in case of an unexpected breakout.
Take Profit: Target the 1.03000 level, where the next significant support lies, for a favorable risk-to-reward ratio.
Confirmation: Wait for bearish price action signals at the resistance zone, such as rejection wicks, bearish engulfing patterns, or a break below short-term support, to confirm the entry.
This setup aligns with the current downtrend, maximizing the likelihood of profit while managing risk effectively. Always monitor for changes in trend strength or macroeconomic factors that could shift the market outlook.
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