The pair failed to create a higher high
- an uptrend has come to an end
Simply, end of an uptrend is the starting of an downtrend.
Should be best entry price would be around 1.3323 where the price retested EMA 20 and failed.
Yet we are still not too late to go short on pair - we are 50 pips late.
Expected take profit level would be previous latest support level @ 1.1354 (100+ pips to go) with a stop loss on recent high at 1.3340
Still, the risk to reward ratio is favourable around 1:1.5
Not a bad deal after-all.
Leave down your comment on what you think on this pair.
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- an uptrend has come to an end
Simply, end of an uptrend is the starting of an downtrend.
Should be best entry price would be around 1.3323 where the price retested EMA 20 and failed.
Yet we are still not too late to go short on pair - we are 50 pips late.
Expected take profit level would be previous latest support level @ 1.1354 (100+ pips to go) with a stop loss on recent high at 1.3340
Still, the risk to reward ratio is favourable around 1:1.5
Not a bad deal after-all.
Leave down your comment on what you think on this pair.
Follow my trading view channel for more daily analysis.
#tradingcommunity
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