EUR/USD is now close to the Resistance Level once again. This is a good area for the sellers to step in slowly and add small sell positions.
There is a good chance of a drop to 1.08 in the next 4-5 weeks as US Dollar gains strength.
The potential for profit is more than 500 pips whereas the loss can be limited to less than 120 Pips.
So, the trading plan is to sell between 1.1320-1.1450 with SL above the resistance area and final target at 1.08 support level.
There is a good chance of a drop to 1.08 in the next 4-5 weeks as US Dollar gains strength.
The potential for profit is more than 500 pips whereas the loss can be limited to less than 120 Pips.
So, the trading plan is to sell between 1.1320-1.1450 with SL above the resistance area and final target at 1.08 support level.
Note
Sell trade in 60 pips profitNote
Booked 100 pips in a day from this set-up. I expect to see more downtrend
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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.