Indecision due to Coronavirus? | EURUSD Sell
EURUSDPrice broke the ascending trendline and then came back to retest it.
Has the upward momentum slowed down?
After breaking it is currently moving sideways.
We can use the fact that there is a lot of uncertainty and indecision in the markets due to the onset of second wave of Coronavirus. It might not be ready to go up.
We can trade the reversal by seling the breakout of rectangle and place stop loss above the pattern or in the middle of it. We can use support for take profit.
What is your opinion?
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.