Strong resistance zone and will decline in short term

4月17日

🔔🔔🔔EUR/USD news:

➡️ The EUR/USD pair held steady around the 1.1400 level during early Asian trading on Thursday, as investors remained cautious, waiting to see whether U.S. President Donald Trump's administration would reach a new trade deal with its partners.

➡️ On the data front, the Eurozone confirmed that the Harmonized Index of Consumer Prices (HICP) rose by 2.2% year-over-year in March, with a monthly increase of 0.6%. Across the Atlantic, U.S. data showed that retail sales grew by 1.4% in March, slightly surpassing expectations of a 1.3% rise.

Personal opinion:
➡️ EUR/USD has tested the 1.1430 level several times but has failed to break above it. Therefore, this is a strong resistance zone for EUR/USD.

➡️ In addition, prices are falling after the RSI entered the overbought zone and showed signs of bearish divergence. Further strengthening the short-term bearish momentum for this pair

➡️ Analysis based on important resistance - support and Fibonacci levels combined with EMA to come up with a suitable strategy

Plan:
🔆Price Zone Setup:

👉Sell EUR/USD 1.1380 – 1.1400
❌SL: 1.1435 | ✅TP: 1.1325 – 1.1270

👉Buy EUR/USD 1.1240 – 1.1230
❌SL: 1.190 | ✅TP: 1.1290– 1.1340

FM wishes you a successful trading day 💰💰💰

4月21日

交易進行

Check EUR/USD
Hit + 50 pips from sell 1.1390
Congratulation