Good day traders, welcome to another weekly analysis by ChinSengFx and I hope you all are having a great week ahead.
Let's talk about EURUSD, as you all know, European Union efforts to agree on stimulus package has been a challenging effort for all EU leaders. Therefore, the strength of EUR will be directly impacted.
Based on technical perspective, EURUSD has reached the previous high on March 2020. A push to the downside (favorable to 1.13353) is most likely. We will be looking at bearish reversal candlestick to form before going into the trade.
Entry Price: 1.14481
SL: 1.1503
TP: 1.13353
Risk:Reward Ratio: 1:2.11
Always enter a trade with clear direction and manage your risk per trade well. It's always you versus yourself in the market.
Happy trading!
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