I believe the EUR/USD price will continue to fall, retest to around 1.103 and then restart its bearish trend. I will be placing a SELL trade at the 1.10250 mark, just below the previous high (1.10325), and another at 1.10300.
I have put my STOP at 1.11000. This is in case the higher trend is tested (dashed dark blue line).
My initial take profit is around the 1.095 mark, as this area has seen strong levels of resistance. This totals roughly 500 pips.
My second TP is at 1.09017, at a key area of resistance, and also just above its lowest price this year. This totals >900 pips.
If the previous low is not broken, then we can presume that there will be a EURUSD trend reversal, and the market will begin its bullish trend.
If you have any feedback please don't hesitate to get in contact.
Id love to hear your thoughts, what do you predict the market will do?
Will we see a trend reversal?
*notes*
TOP red line - SL
dark green line - 1st TP
light green line - 2nd TP
White line - OPEN price
Blue lines are trends
I have put my STOP at 1.11000. This is in case the higher trend is tested (dashed dark blue line).
My initial take profit is around the 1.095 mark, as this area has seen strong levels of resistance. This totals roughly 500 pips.
My second TP is at 1.09017, at a key area of resistance, and also just above its lowest price this year. This totals >900 pips.
If the previous low is not broken, then we can presume that there will be a EURUSD trend reversal, and the market will begin its bullish trend.
If you have any feedback please don't hesitate to get in contact.
Id love to hear your thoughts, what do you predict the market will do?
Will we see a trend reversal?
*notes*
TOP red line - SL
dark green line - 1st TP
light green line - 2nd TP
White line - OPEN price
Blue lines are trends