_EUR/USD Potential Breakout and Sell Zone:_
A potential breakout below the 1.07774 level is expected in the EUR/USD pair, which could become a sell zone. This breakout would suggest that the pair has gained significant bearish momentum and is likely to continue falling.
_Potential Sell Zone:_ 1.07774
_Target Levels:_
- _TP1: 1.06043_
- _TP2: 1.04925_
- _TP3: 1.03572_
_Reasons for the Potential Breakout:_
1. _Technical Breakdown:_ The EUR/USD pair is approaching a key support level, and a breakout below this level could indicate a potential change in trend.
2. _Momentum Indicators:_ The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are showing bearish signals, indicating a potential decline in prices.
3. _Fundamental Analysis:_ The EUR/USD pair has been influenced by negative economic data from the Eurozone, including low inflation and weak growth.
_Evidence:_
1. _Chart Patterns:_ The EUR/USD pair is forming a bearish chart pattern, indicating a potential decline in prices.
2. _Candlestick Analysis:_ The pair is forming a bearish candlestick pattern, indicating a potential change in trend.
3. _Technical Indicators:_ The pair's technical indicators, including the RSI and MACD, are showing bearish signals.
_Trading Strategy:_
Sellers may look to enter the market at the potential sell zone of 1.07774, with a stop-loss above 1.09167. The TP levels can be used to take profits, or to adjust the stop-loss to break-even.
Remember Travis with best wishes👍
A potential breakout below the 1.07774 level is expected in the EUR/USD pair, which could become a sell zone. This breakout would suggest that the pair has gained significant bearish momentum and is likely to continue falling.
_Potential Sell Zone:_ 1.07774
_Target Levels:_
- _TP1: 1.06043_
- _TP2: 1.04925_
- _TP3: 1.03572_
_Reasons for the Potential Breakout:_
1. _Technical Breakdown:_ The EUR/USD pair is approaching a key support level, and a breakout below this level could indicate a potential change in trend.
2. _Momentum Indicators:_ The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are showing bearish signals, indicating a potential decline in prices.
3. _Fundamental Analysis:_ The EUR/USD pair has been influenced by negative economic data from the Eurozone, including low inflation and weak growth.
_Evidence:_
1. _Chart Patterns:_ The EUR/USD pair is forming a bearish chart pattern, indicating a potential decline in prices.
2. _Candlestick Analysis:_ The pair is forming a bearish candlestick pattern, indicating a potential change in trend.
3. _Technical Indicators:_ The pair's technical indicators, including the RSI and MACD, are showing bearish signals.
_Trading Strategy:_
Sellers may look to enter the market at the potential sell zone of 1.07774, with a stop-loss above 1.09167. The TP levels can be used to take profits, or to adjust the stop-loss to break-even.
Remember Travis with best wishes👍
Trade closed: stop reached
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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.
Related publications
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.