Euro / U.S. DollarShort
Double Top Pattern on EURUSD - Trendline Breakdown
Updated
Hello,
EURUSD broke down the rising trendline from the previous analytics. This was to be expected because rising trendlines usually break down over time. The double top pattern on the chart, along with a weak second top on the MACD, casts a bearish shadow onto the chart. Right now isn't optimal to enter shorts, but for educational purposes, you can see the two shorts I opened on the chart.
Regards,
Ely
EURUSD broke down the rising trendline from the previous analytics. This was to be expected because rising trendlines usually break down over time. The double top pattern on the chart, along with a weak second top on the MACD, casts a bearish shadow onto the chart. Right now isn't optimal to enter shorts, but for educational purposes, you can see the two shorts I opened on the chart.
Regards,
Ely
Trade closed: target reached
EUR fell into the white target zone on the chart around $1.088. While a further fall might be possible, these analytics concluded with success. Thank you for staying with me! Remember to use strict risk management policies. Select your trade amount carefully. Never trade more than you're willing to lose.
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